Irwindale City Council
March 25, 2026

Dudek
Open Space Element
Professional Services Contract -18-

9.3 Counterparts.

This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, whether the signatures are originals, electronic, facsimiles or digital. All such counterparts shall together constitute but one and the same Agreement.

9.4 Integration; Amendment.

This Agreement including the attachments hereto is the entire, complete and exclusive expression of the understanding of the parties. It is understood that there are no oral agreements between the parties hereto affecting this Agreement and this Agreement supersedes and cancels any and all previous negotiations, arrangements, agreements and understandings, if any, between the parties, and none shall be used to interpret this Agreement. No amendment to or modification of this Agreement shall be valid unless made in writing and approved by the Consultant and by the City Council. The parties agree that this requirement for written modifications cannot be waived and that any attempted waiver shall be void.

9.5 Severability.

In the event that any one or more of the phrases, sentences, clauses, paragraphs, or sections contained in this Agreement shall be declared invalid or unenforceable by a valid judgment or decree of a court of competent jurisdiction, such invalidity or unenforceability shall not affect any of the remaining phrases, sentences, clauses, paragraphs, or sections of this Agreement which are hereby declared as severable and shall be interpreted to carry out the intent of the parties hereunder unless the invalid provision is so material that its invalidity deprives either party of the basic benefit of their bargain or renders this Agreement meaningless.

9.6 Warranty & Representation of Non-Collusion.

No official, officer, or employee of City has any financial interest, direct or indirect, in this Agreement, nor shall any official, officer, or employee of City participate in any decision relating to this Agreement which may affect his/her financial interest or the financial interest of any corporation, partnership, or association in which (s)he is directly or indirectly interested, or in violation of any corporation, partnership, or association in which (s)he is directly or indirectly interested, or in violation of any State or municipal statute or regulation. The determination of “financial interest” shall be consistent with State law and shall not include interests found to be “remote” or “non-interests” pursuant to Government Code Sections 1091 or 1091.5. Consultant warrants and represents that it has not paid or given, and will not pay or give, to any third party including, but not limited to, any City official, officer, or employee, any money, consideration, or other thing of value as a result or consequence of obtaining or being awarded any agreement. Consultant further warrants and represents that (s)he/it has not engaged in any act(s), omission(s), or other conduct or collusion that would result in the payment of any money, consideration, or other thing of value to any third party including, but not limited to, any

Dudek
Open Space Element
Professional Services Contract -19-
City official, officer, or employee, as a result of consequence of obtaining or being awarded any agreement. Consultant is aware of and understands that any such act(s), omission(s) or other conduct resulting in such payment of money, consideration, or other thing of value will render this Agreement void and of no force or effect.

Consultant’s Authorized Initials

9.7 Corporate Authority.

The persons executing this Agreement on behalf of the parties hereto warrant that (i) such party is duly organized and existing, (ii) they are duly authorized to execute and deliver this Agreement on behalf of said party, (iii) by so executing this Agreement, such party is formally bound to the provisions of this Agreement, and (iv) the entering into this Agreement does not violate any provision of any other Agreement to which said party is bound. This Agreement shall be binding upon the heirs, executors, administrators, successors and assigns of the parties.
[SIGNATURES ON FOLLOWING PAGE]

Dudek
Open Space Element
Professional Services Contract -20-
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date and year first-above written.

CITY:

CITY IRWINDALE, a municipal corporation

Julian Miranda, City Manager
ATTEST:

Laura Nieto, Chief City Clerk
APPROVED AS TO FORM:

ALESHIRE & WYNDER, LLP

Adrian R. Guerra, City Attorney
CONSULTANT:

By:

Name: Joseph Monaco
Title: President and CEO
By:

Name:

Title:

Address: 225 South Lake Avenue,
Suite M210
Pasadena CA, 9110X
Two corporate officer signatures required when Consultant is a corporation, with one signature required from each of the following groups: 1) Chairman of the Board, President or any Vice President; and 2) Secretary, any Assistant Secretary, Chief Financial Officer or any Assistant Treasurer. CONSULTANT’S SIGNATURES SHALL BE DULY NOTARIZED, AND APPROPRIATE

ATTESTATIONS SHALL BE INCLUDED AS MAY BE REQUIRED BY THE BYLAWS, ARTICLES OF INCORPORATION, OR OTHER RULES OR REGULATIONS APPLICABLE TO CONSULTANT’S BUSINESS ENTITY.

CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT

STATE OF CALIFORNIA

COUNTY OF LOS ANGELES
On __________, 202___ before me, ________________, personally appeared ________________, proved to me on the basis of satisfactory evidence to be the person(s) whose names(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature: _____________________________________

OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form.

CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT

INDIVIDUAL

CORPORATE OFFICER
_______________________________

TITLE(S)

PARTNER(S) LIMITED

GENERAL

ATTORNEY-IN-FACT

TRUSTEE(S)

GUARDIAN/CONSERVATOR
OTHER____________________________
___
__________________________________
____
SIGNER IS REPRESENTING:
(NAME OF PERSON(S) OR ENTITY(IES))
_________________________________________
____
_________________________________________
____
___________________________________

TITLE OR TYPE OF DOCUMENT
___________________________________

NUMBER OF PAGES
___________________________________

DATE OF DOCUMENT
___________________________________

SIGNER(S) OTHER THAN NAMED ABOVE
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy or validity of that document.

CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT

STATE OF CALIFORNIA

COUNTY OF LOS ANGELES
On __________, 202___ before me, ________________, personally appeared ________________, proved to me on the basis of satisfactory evidence to be the person(s) whose names(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature: _____________________________________

OPTIONAL
Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of this form.

CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT

INDIVIDUAL

CORPORATE OFFICER
_______________________________

TITLE(S)

PARTNER(S) LIMITED

GENERAL

ATTORNEY-IN-FACT

TRUSTEE(S)

GUARDIAN/CONSERVATOR
OTHER____________________________
___
__________________________________
____
SIGNER IS REPRESENTING:
(NAME OF PERSON(S) OR ENTITY(IES))
_________________________________________
____
_________________________________________
____
___________________________________

TITLE OR TYPE OF DOCUMENT
___________________________________

NUMBER OF PAGES
___________________________________

DATE OF DOCUMENT
___________________________________

SIGNER(S) OTHER THAN NAMED ABOVE
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy or validity of that document.

Dudek
Open Space Element
Professional Services Contract A-1
EXHIBIT “A”

SCOPE OF SERVICES
Proposal Dated October 1, 2025
Task 1: Project Initiation and Project Management
Dudek’s project manager will serve as the primary point of contact and will oversee the day-to-day project management tasks to ensure that the project stays on schedule and within budget. Dudek will facilitate clear lines of communication, organization, and milestone tracking to achieve successful outcomes.

Dudek will schedule and facilitate a virtual project kickoff meeting to share project ideas and aspirations, and establish procedures and relationships that will last through the life of the project. This meeting will be structured with City staff, any key partners, and Dudek’s core team. Important topics that will be discussed include introductions, project goals and regulatory context, lines of communication, methods for file sharing, data needs, engagement strategy, overarching style and organizational preferences, and project schedule. Dudek will send the meeting agenda ahead of the kickoff meeting and will follow the meeting with a summary and action items.

During the project’s projected 12-month schedule (Figure 2 within the Schedule of Services Section), Dudek will attend monthly virtual meetings with staff. Dudek’s project manager will ensure that necessary team members attend key check-ins as they relate to relevant upcoming milestones. Dudek will provide agendas ahead of meetings and meeting notes with action items after meetings to ensure continued progress in alignment with the project schedule.

Deliverables
• Kickoff meeting agenda and notes
• Kickoff meeting attendance (virtual)
• Develop agendas, attend, and provide meeting notes for 12 monthly project check-in meetings (virtual)
Task 2: Community Outreach and Engagement
Dudek’s team of in-house community engagement specialists has extensive experience working with cities to develop a comprehensive and efficient outreach and engagement effort. We aim to create engagement that is inclusive and interactive to inform the planning process.

Engagement Planning
During the project kickoff meeting, Dudek will discuss with City staff initial thoughts on engagement planning, methods, and marketing. After kickoff, Dudek will develop a draft

Dudek
Open Space Element
Professional Services Contract A-2
engagement plan and incorporate engagement into the project schedule. Our team will identify marketing and communication methods we’ve found success with elsewhere, and ensure that our methods reduce barriers to providing input. For example, we will create translated engagement materials, aim to provide both in-person and online opportunities for input, and will consider timing and locations for events that aim to allow the broadest participation possible, We’ll also develop a preliminary list of community groups, organizations, regional partners, businesses, and agencies that may be interested in the planning effort, and will work to ensure these organizations are notified of the engagement events.

City staff will review the draft engagement plan, and provide local insights that align with the City’s communication and marketing procedures and experiences. Dudek will take the City’s comments and create a final engagement plan for the project.

Based on prior experiences and for the purposes of budgeting, Dudek has assumed public engagement in the form of community workshops, and partner engagement with local organizations and City departments in the form of interviews. However, Dudek is experienced with a wide variety of engagement methods, such as surveys, walking tours, budgeting activities, and more. Should additional or different engagement methods be preferred outside of or beyond workshops and targeted local organization interviews, Dudek can work with the City to adjust the scope and fee.

Local Organization and City Staff Interviews
Dudek will work with City staff to identify the most relevant department leads and potential project partners related to implementation of the Open Space Element. They may include City department staff, agencies, service providers, local organizations, businesses, or other potential partners. Once identified, Dudek will conduct up to five one-on-one interviews that will discuss existing programs and policies, gaps in open space and recreation services or amenities, and opportunities for future collaboration. Dudek expects one interview to include Los Angeles County Parks and Recreation as it relates to the Santa Fe Recreational Area.

These interviews will inform Task 4’s development of draft policy and the implementation table.

Community Workshops
Dudek staff will develop presentation materials for a community workshop. To encourage attendance and limit outreach fatigue, this workshop has the potential to be adjusted to be delivered in conjunction with other planning efforts, or to be adjusted to act as a popup event or tabling effort at an established and popular community event. In the case of the Open Space Element, the event could also occur in a City open space. Dudek assumes one in-person and one virtual public workshop will be held to facilitate a wider audience.

Dudek
Open Space Element
Professional Services Contract A-3
Community Engagement Summary Report
At the conclusion of all engagement, Dudek will develop a Community Engagement Summary Report, which will outline key feedback that was heard as part of the effort, including themes and data.

Deliverables
• Draft Engagement Plan
• Final Engagement Plan
• Marketing materials
• Workshop material development
• Attendance and presentation at one in-person and one virtual community workshop
• Up to five one-on-one interviews with City department staff, service providers, local organizations, and other potential partners
• Community Engagement Summary Report highlighting trends identified from public input
Assumptions
• City staff will provide consolidated comments on the Draft Engagement Plan. • Dudek has included translation within the budget to cover Spanish translation for two workshops and materials. Should the City prefer additional languages, or further translation or interpretation needs, Dudek can provide these services for an additional fee.

Task 3: Existing Conditions Analysis
Existing Policy Matrix
Dudek will review the existing Open Space Element policies. Dudek will compile policies into a Policy Matrix that will be used to categorize and cross-reference policies with the latest state mandates, including SB 1425. This matrix will allow the Dudek team and City staff to easily filter policies by relevant topics. Dudek will follow up with City staff about key existing policies from Open Space Element to understand the current implementation status and effectiveness of implementation.

In a second tab within the Policy Matrix, Dudek will compile topic-relevant policies within other General Plan elements or City planning documents, particularly the Safety Element and Local Hazard Mitigation Plan due to their overlap with climate resilience and how that relates to SB 1425. These policies will also be attributed with a similar categorization format, allowing them to be quickly and effectively cross-checked for consistency during policy development.

Community Profile

Dudek
Open Space Element
Professional Services Contract A-4
Dudek will compile a community profile that will provide a basis for mapping and the open space assessment. Dudek will utilize data from the U.S. Census Bureau, CalEnviroScreen, California Healthy Places Index, and California Department of Finance to create an overview of demographic, housing, economic, and social trends throughout the City. Information from the recent Housing, and Environmental Justice Element updates will be reviewed and incorporated as appropriate.

Environmental factors will also be evaluated. CalEnviroScreen and Healthy Places Index will provide information on pollution factors, and will be supplemented with land use data.

Climate hazard data from the Safety Element update will be considered and will be supplemented where necessary. For example, Dudek will consider the Trust for Public Land’s thermal satellite imagery that identifies urban heat island severity. Data on the City’s urban tree canopy will also be considered, and our urban foresters may utilize existing local data, the National Urban Tree Canopy Assessment, Google Earth Insights, or Tree Equity Score to estimate and analyze tree canopy in relation to the Open Space Element.

Open Space Assessment
Dudek understands a major component of this effort will be compiling, updating, and providing the City with data and mapping that can be used moving forward for City planning, programming, grant pursuits, or other purposes. Our team will build on the City’s existing GIS layers for open space and trails, and provide updates where necessary.

Climate projections and state and federal hazard layers outlined within the Community Profile will be analyzed in conjunction with environmental factors to determine the relationships between open spaces in the City and potential climate impacts.

Our team will consider the relationship between existing community density and park acreage throughout the City, along with accessible regional resources, to inform future demand based on population projections and equitable access considerations within SB 1425. Dudek will undertake a walkability and bikeability analysis, accounting for park and trail entrances and the roadway network to further understand outdoor recreation access.

Input from residents regarding park needs, accessibility, and park conditions and maintenance will be folded into the needs assessment.

Dudek will assess the parks and open space network for opportunities for acquisition or enhancement to improve access to the community to trails. We will evaluate the connectivity of the existing trails sections and identify potential corridors for improving the network. The factors evaluated will include existing trails and easements; desirable destinations such as parks, business districts, and schools; available land; creeks and drainages; and other factors. We will identify areas within the City where communities are underserved by trails and the options for enhancements will be proposed.

Deliverables

Dudek
Open Space Element
Professional Services Contract A-5
• Existing Policy Matrix
• Draft Community Profile
• Open Space Element maps and GIS Data (PDF, Shapefiles/GeoDatabase) • Draft Open Space Assessment
Task 4: Research and Analysis
Dudek will begin with existing goals, policies, and actions from Task 3, and will refine, expand, and add policies and actions to address key components of SB 1425, respond to City and agency feedback, and integrate input received from community engagement.

To address SB 1425, our team will develop policies that address climate resilience, park access, and habitat enhancement in the City’s open spaces. Irwindale is unique in its land use patterns and with the existence of the Santa Fe Recreation Area. As such, Dudek would strongly consider the spatial components of the City’s land uses and built environment. Policies will prioritize open space accessibility for the City’s residential communities, and consider policy that can also address the desires and options for the City’s large business community. Related to climate resilience, our team anticipates extreme heat as the largest hazard that will need to be further addressed. We will collaborate with our urban forestry team to ensure that urban greening best practices are included to enhance shade and limit urban heat island effect over the long term. We will incorporate temporary or quick build practices that we’ve explored as part of past climate resilience and extreme heat planning efforts in Southern California, and help to provide immediate relief from extreme heat. Our landscape architects and biologists will also consider rewilding opportunities relative to the City’s open spaces.

To facilitate the element’s implementation, Dudek will develop an implementation table for the element’s actions. This will categorize the type of implementing action (ordinance, partnership, program, engagement/education, study), identify lead departments, potential partner organizations and agencies, costs, and funding opportunities. Dudek will use financial and staffing data provided by the City, combined with our real-world experience with trail and park construction, to develop cost estimates for the implementation and ongoing maintenance of the proposed recreation amenities and open space. We will evaluate City revenue sources to identify opportunities for new or improved local funding sources. Other funding avenues, such as grants, leases, sponsorships, or partnerships, may also be explored as appropriate.

Deliverables
• Draft Open Space goals, policy, priority recommendations, and implementation table (Word)
Assumptions
• The General Plan update will not include preparation of an HCP for the City’s open spaces, but Dudek staff can work with City staff and discuss how to best

Dudek
Open Space Element
Professional Services Contract A-6
integrate HCP best practices or next steps into the Open Space Element. If the City is interested in the development of an HCP in accordance with the Endangered Species Act, Dudek can work with City staff to develop a separate scope and fee.

Task 5: Open Space Element
Administrative Draft
Dudek will develop an Administrative Draft for City staff to review and provide comments on ahead of the public draft development. Two deliverables will play into an efficient and successful administrative review process, including a draft style guide (allowing for graphic input), and a Word draft of the element (allowing for tracked-changes text edits).

Early in the project, Dudek’s Graphics team will build on existing City branding to create a project style guide with fonts and colors that are locally relevant and consistent with the Americans with Disabilities Act. The styles of the recent Safety, Environmental Justice, and Housing Element updates will be considered when developing this element’s style.

This style guide will be leveraged to develop not only the draft layout, but also will be key to ensuring a consistent project brand throughout the process. Staff will be able to provide comments on this draft layout early on in the project.

After Tasks 3 and 4 have been completed, Dudek will compile the information gathered and policies developed to create a Word Administrative Draft Open Space Element. The Administrative Draft will follow an easy-to-understand organizational structure that will mimic the existing General Plan as possible for ease of use and consistency across elements. Dudek will track new and modified policies and background information within the element, so that City staff, decision makers, and the public will understand the changes that are being proposed.

Public Review Draft
After responding to City comments on the Administrative Draft Open Space Element, Dudek will develop the Public Draft Open Space Element. Dudek will then work with the City to facilitate public review in coordination with
Task 6’s Environmental Review.

Hearing Support and Final Draft
Dudek assumes Planning Commission feedback will be solicited following or during public review. Our team will assist the City with preparing staff reports that can be used for the Planning Commission and City Council. Agenda materials will include a policy-tracking matrix to easily highlight new and modified policies. This matrix will seamlessly build upon Task 3’s review and development of an existing Policy Matrix.

Dudek
Open Space Element
Professional Services Contract A-7
After public comments and recommendations from Planning Commission have been received, Dudek will incorporate feedback and develop the Final Draft Open Space Element for the City Council Adoption Hearing. For budgetary purposes, Dudek assumes that no substantial changes or revisions will be required for this draft.

Deliverables
• Administrative Draft Open Space Element
• Public Review Draft Open Space Element
• A policy-tracking matrix
• Assisting City staff with the preparation of staff reports • Final Open Space Element
Task 6: Environmental Review Preparation
This Task assumes that the Open Space Element would not alter any aspect of the buildout of the City’s General Plan in terms of land use or density changes that could result in increased population, housing, or employment. Accordingly, this scope of service anticipates that an addendum to the Irwindale General Plan Environmental Impact Report (EIR) would be the appropriate CEQA documentation for the Open Space Element.

Dudek will prepare an addendum consistent with the provisions of CEQA Guidelines Section 15164 (Addendum to an EIR or Negative Declaration).

Project Description
Dudek will work with the City to establish a stable, complete Project Description in support of the Addendum. The focus of the Project Description will be on summarizing the previously approved project (Irwindale General Plan) and the proposed changes (the Open Space Element). Dudek will work with the City to define how the Open Space Element could result in environmental impacts and will develop a methodology for determining whether those environmental impacts were adequately analyzed in the City’s General Plan EIR.

This task will include the submittal of a Draft Project Description, followed by one round of review and comment on the Project Description by the City, and submittal of a final Project Description. Dudek will commence with the Draft CEQA Addendum once the Project Description is determined to be complete and stable.

Draft CEQA Addendum
An addendum will be prepared for the project that is consistent with the provisions of CEQA Guidelines Section 15164 (Addendum to an EIR or Negative Declaration). The addendum will consist of an introduction describing the General Plan history and a summary of applicable CEQA requirements, including a description of why the project does not warrant a subsequent EIR; the project location and setting; and the Project

Dudek
Open Space Element
Professional Services Contract A-8
Description. The environmental analysis section would then provide the environmental impact analysis for the proposed project.

The environmental impact analysis will be divided into each of the 20 required CEQA topical areas and organized as an Initial Study Checklist, with some modifications to the Checklist for the purposes of an addendum. Under each topical area, the environmental findings from the Irwindale General Plan EIR will be summarized. Then, analysis for the Environmental Justice Element will be provided, focusing on whether there would be new significant environmental effects, a substantial increase in the severity of previously identified significant effects, and/or new mitigation measures relative to what was disclosed in the Irwindale General Plan EIR.

Given the Citywide and programmatic nature of the Open Space Element, Dudek assumes that project-level and site-specific data regarding project implementation would not be available and that the environmental analysis in the addendum will be programmatic and qualitative in nature, in a manner consistent with the General Plan.

Therefore, for topical areas that require site-specific information, such as biological and cultural resources, Dudek assumes reliance on information from the General Plan EIR.

As such, no records searches, field surveys, tribal outreach, or cultural resource evaluations are assumed in this scope and cost. Further, because the Open Space Element would not alter any aspect of the buildout of the City’s General Plan in terms of land use or density changes that could result in increased population, housing, or employment, no quantitative modeling (e.g., no CalEEMod or VMT analysis) is anticipated to be required.

Dudek will distribute an electronic copy of the Draft Addendum in Microsoft Word format for easy review and editing to City staff. Dudek will respond to one set of consolidated comments provided by the City to prepare the Revised Draft Addendum. Up to two rounds of review and revision are included in this scope of services.

Final Addendum
Dudek will prepare the addendum for finalization and inclusion in the staff report(s) for the project’s decision hearing(s). This scope and cost assumes delivery of electronic versions only (no hard copies of the addendum are assumed to be required). This scope and cost also assumes only one final version will be needed (i.e., if the project requires multiple decision hearings, there will be no requested revisions between hearings). Dudek assumes that the City will be responsible for preparing and filing a Notice of Determination (NOD) at the Los Angeles County Clerk’s office and with the State Clearinghouse pursuant to CEQA noticing requirements. Our cost estimate assumes that the City will also be responsible for the filing fees associated with the NOD.

This scope of work includes up to three 1-hour virtual team meetings during the CEQA process. This effort also includes internal administrative coordination and invoicing tasks for 6 months of IS/ND preparation and approval. Project extensions may require a budget

Dudek
Open Space Element
Professional Services Contract A-9
augment for this task. This scope does not include attendance at public meetings or hearings by CEQA staff.

Deliverables
• Project Description
• Draft Addendum
• Final Addendum
• Attendance of three 1-hour virtual meetings with City staff to discuss task deliverables
Assumptions
• The City will pay all applicable filing fees associated with environmental review • No cultural records search, Assembly Bill 52, or SB 18 consultation • assistance will be conducted; however, Dudek can provide this service, if needed, for an additional fee.
• No surveys or fieldwork will be conducted; however, Dudek can provide this service, if needed, for an additional fee.
• No quantifiable technical analyses (such as air quality/greenhouse gas emissions, vehicle miles traveled, or noise) will be conducted and no technical reports will be provided; however, Dudek can provide this service, if needed, for an additional fee.
• Dudek will provide electronic copies for all deliverables. Print copies will be completed at cost and billed to the City on an as-needed basis. • The Dudek CEQA team will not attend any public scoping meetings, Planning Commission meetings, or City Council hearings.

Dudek
Open Space Element
Professional Services Contract B-1
EXHIBIT “B”

SPECIAL REQUIREMENTS
(Superseding Contract Boilerplate)
THERE ARE NO SPECIAL REQUIREMENTS FOR THIS CONTRACT.

Dudek
Open Space Element
Professional Services Contract C-1
EXHIBIT “C”

SCHEDULE OF COMPENSATION/BUDGET

Dudek
Open Space Element
Professional Services Contract C-2
EXHIBIT “C”
SCHEDULE OF COMPENSATION/BUDGET (Continued)

Dudek
Open Space Element
Professional Services Contract D-1
EXHIBIT “D”

SCHEDULE OF PERFORMANCE

Item #17.G.

Date: March 25, 2026
To: Honorable Mayor and Members of the City Council
From: Julian A. Miranda, City Manager
Issue: Approve the Purchase of New Police Department Duty Handguns and Surplus Old Duty Handguns
City Manager's Recommendation:

1. Adopt Resolution No. 2026-20-3731 entitled: “A RESOLUTION OF THE CITY COUNCIL OF THE CITY

OF IRWINDALE DECLARING USED POLICE DEPARTMENT SERVICE WEAPONS AS SURPLUS AND AUTHORIZING DISPOSITION OF THE SURPLUS”; and 2. Adopt Resolution No. 2026-21-3732 entitled: “A

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF IRWINDALE APPROVING THE PURCHASE OF THIRTY-FIVE (35) HANDGUNS, (35) OPTICS & ACCESSORIES, (35) LIGHTS, and (35) HOLSTERS TOTALING $35,610.93 AND WAIVING FORMAL BIDDING PROCEDURES PER IRWINDALE MUNICIPAL CODE SECTION

3.44.080(C)”.

Administrative Action:

Submitted by:

Christopher Hofford, Chief of Police
Prepared by:

Officer Jaycon Sanchez, PD Rangemaster Electronically Approved Reviewed by:

Adrian R. Guerra, City Attorney
Kambiz Borhani, Finance Director / City Treasurer
Approved by:

Julian A. Miranda, City Manager
Background and Analysis:

The Irwindale Police Department is currently using the Glock 21 .45 caliber semi-automatic, full-size, and Glock 22 .40 caliber semi-automatic, full-size handguns for duty use. Most of these handguns are approximately ten (10) years old, outdated and need costly maintenance and/or repairs. As a result of the cost for maintenance, the Irwindale Police Department would like to purchase new department duty handguns, pistol mounted optics, weapon mounted lights, and Safariland holsters to replace the aging and outdated Glock handguns. The department will be using a buy-back program offered through the vendor and/or offer the firearm to be purchased by officers at the buy-back price, which provides significant savings in the purchasing of the new weapons.

Irwindale Municipal Code section 3.44.080(c) defines when the commodity can be obtained from only one vendor. A commodity shall be considered obtainable only from one vendor when only one vendor offers it for sale, lease or rental, or when only one vendor is able to do so within the time frame and/or under the terms and conditions which reasonably meet the needs of the using agency, or when there is a sole distributor or manufacturer of a product or service such that there is no acceptable substitute within a specific geographical area.

LC Action is a dedicated law enforcement distributor of semi-automatic Glock handguns for police agencies throughout the country and currently the only authorized law enforcement distributor in California. LC Action, being a dedicated distributor of Glock handguns, can provide law enforcement agencies with a below retail cost – necessitating the need to do a sole source purchase. The Glock handguns will come with three high-capacity magazines, night sights, an adjustable back strap, a universal rail system for a tactical flashlight, and holster. Although there are other Glock dealers, they do not offer the purchasing agency a designated law enforcement Glock handgun complete with highcapacity magazines for field-ready use, and most do not offer the buy-back program. LC Action will handle all D.O.J. transfers and the necessary federal and state compliance measures.

Additionally, the newer Glock handgun has a lower maintenance cost, which can be done in-house by department certified Glock armorers, and is known to be a dependable weapon for field use. The Glock handgun is also an easier weapon to deploy in the field for officers with a limited or a small grip.

Fiscal Impact:

There will be no fiscal impact on the General Fund. Purchasing funds will come from the police department’s Asset Forfeiture account 16-35-370-42230-0000 in the amount of $35,610.93. Sufficient funds exist in this account.

LC Action has offered to purchase our old duty weapons and give a store credit of $8200. The total cost of new weapons and equipment is $42,810.93. This leaves a balance of $35,610.93.

Attachments:

1. IRWINDALE GLOCKS Outfitted w-trades

2. Resolution- Replacement Handgun Purchase 2026

3. Resolution-Surplus Weapons and Disposition

1088 N FIRST STREET
SAN JOSE CA 95112 Date Mar-05-2026
TEL: 408 294-2677 • FAX 408 294-6444
EMAIL: [email protected]
CUST#
QTY. PRICE TOTAL
35 466.00 16310.00
35 154.66 5413.10
35 270.66 9473.10
35 186.34 6521.90
35 52.58 1840.30
1 4252.53 4252.53

0.00 0.00
20 -250.00 -5000.00
16 -200.00 -3200.00

0.00 0.00

0.00 $35,610.93
Notes: 0.000%

0.00 0.00
$35,610.93
AMGLO # GL-810 2XL TALL GREEN TRITIUM BLACK OUTLINE .350" FRONT FLAT BLACK .429 REAR
SALES TAX ON NEW ITEMS AT 10.75%

QUOTED BY
To:

JAYCON SANCHECZ

IRWINDALE POLICE DEPT
P# 626-430-2244
EM: [email protected]
TOTAL
EST. DELIVERY

DESCRIPTION
G17 GEN6 FXD GLOCK PISTOL 9MM P61750202 MOS 17RD
SAFARILAND # 6360RDS HOLSTER FOR GEN6 GLOCK WITH LIGHT AND OPTIC # 6360RDS-8362-41
HE507C-X3-GR-LEM Green Multi-Reticle, 7075 Aluminum, Open, Solar, Shake Awake, Pistol
Net 45
TRADE-IN USED GLOCK MODEL G21 GEN4 PISTOLS WITH NIGHT SIGHTS AND 3 MAGS PER GUN
TRADE-IN USED GLOCK MODEL G22 GEN4 PISTOLS WITH NIGHT SIGHTS AND 3 MAGS PER GUN
STREAMLIGHT 69168 TLR-1 HP-X USB – Includes rail locating keys and (2) SL-B9 battery packs – Black

LC ACTION POLICE SUPPLY

SUBTOTAL
OTHER
OTHER

SHIPPING
TERMS
Stacy Moore
F.O.B.

Ship To:

QUOTATION

Resolution No. 2026-21-3732

RESOLUTION NO. 2026-21-3732

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF IRWINDALE APPROVING THE PURCHASE OF THIRTY-FIVE (35) HANDGUNS, THIRTYFIVE (35) HOLSTERS, THIRTY-FIVE (35) PISTOL MOUNTED OPTICS and ACCESSORIES, THIRTY-FIVE (35) WEAPON MOUNTED LIGHTS TOTALING $35,610.93 AND WAIVING FORMAL BIDDING PROCEDURES PER
IRWINDALE MUNICIPAL CODE SECTION 3.44.080(C)
WHEREAS, properly functioning police handguns are vital for day-to-day operations in law enforcement; and
of
WHEREAS, our current handguns are approximately ten (10) years old and are in constant need of costly maintenance and/or repairs; and WHEREAS, the City of Irwindale – Police Department has budgeted for replacement of used police department semi-automatic handguns, revolver and rifles; and WHEREAS, Section 3.44.080(C) of the Irwindale Municipal Code defines “When the commodity can be obtained from only one vendor. A commodity shall be considered obtainable only from one vendor when only one vendor offers it for sale, lease or rental, or when only one vendor is able to do so within the time frame and/or under the terms and conditions which reasonably meet the needs of the using agency, or when there is a sole distributor or manufacturer of a product or service such that there is no acceptable substitute within a specific geographical area”; and
WHEREAS, L.C. Action is a dedicated law enforcement distributor of semiautomatic Glock handguns for police agencies throughout the country; WHEREAS, L.C. Action can provide law enforcement agencies with a below retail cost. The Glock handguns, with added accessories, will come with three highcapacity magazines, night sights, an adjustable back strap, weapon mounted lights and pistol mounted optics. Although there are other Glock dealers, they do not offer the purchasing agency a designated law enforcement Glock handgun complete with the high-capacity magazines for field ready use, and most do not offer the buy-back program. L.C. Action will handle all D.O.J. transfers and the necessary federal and state compliance measures; and,
WHEREAS, L.C. Action offers law enforcement agencies below retail cost.

NOW, THEREFORE, the City Council of the City of Irwindale, California, resolves, determines and orders as follows:

SECTION 1. The above recitals are true and correct.

Resolution No. 2026-21-3732

SECTION 2. That it would be in the best interest of the City to forego bidding, and waiving formal bidding procedures per Irwindale Municipal Code Section 3.44.080(C) and, as such, the City Council hereby approves the waiver of the bidding procedures and direct purchase of the handguns from L.C. Action for the reasons described above.

SECTION 3. The City Council hereby approves the use of Asset Forfeiture fund monies in the amount of $35,610.93 for such purchase.

SECTION 4. The Deputy City Clerk shall attest to the adoption of this resolution which shall, in turn, have immediate effect.

PASSED, APPROVED AND ADOPTED this 25th day of March 2026. ________________________
H. Manuel Ortiz, Mayor
ATTEST:
_______________________________
Laura Nieto, CMC
Deputy City Clerk
STATE OF CALIFORNIA }
COUNTY OF LOS ANGELES } ss.

CITY OF IRWINDALE }
I, Laura Nieto, Deputy City Clerk of the City of Irwindale, do hereby certify that the foregoing Resolution No. 2026-21-3732 was duly and regularly passed and adopted by the City Council of the City of Irwindale at its regular meeting held on the 25th day of March 2026, by the following vote:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

ABSTAIN: Councilmembers:

Resolution No. 2026-21-3732

Laura Nieto, CMC
Deputy City Clerk

Resolution No. 2026-20-3731

RESOLUTION NO. 2026-20-3731

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF IRWINDALE

DECLARING USED POLICE DEPARTMENT SERVICE WEAPONS AS SURPLUS

AND AUTHORIZING DISPOSITION OF THE SURPLUS
WHEREAS, the City of Irwindale has budgeted for the replacement of used police department semi-automatic handguns; and
WHEREAS, (20) Glock 21 .45 caliber semi-automatic handguns (serial numbers BBSS549, BBSS552, BBSS554, BBSS555, BBSS557, BBSS558, BCDH707, BCDH708, BCDH711, BCDH713, BCDH714, BCDH715, BCDH716, BCDH719, BCDH720, BCDH721, AHLB990, AHLB991, AHLB992, AHLB994, (16) Glock 22 .40 caliber semi-automatic handguns (serial numbers AARB493, AARB494, AARB495, AARB496, AARB497, AARB498, AARB499, AARB500, AARB501, AARB502, AARB505, AARB506, AARB507, BMZA497, AEZP602, AEZP603) have been removed from service and replaced by new 9mm semi-automatic handguns - Glock 17 (Gen6) that were purchased for use by sworn officers in the course of their duty; and
WHEREAS, Section 3.44.080(C) of the Irwindale Municipal Code defines “When the commodity can be obtained from only one vendor. A commodity shall be considered obtainable only from one vendor when only one vendor offers it for sale, lease or rental, or when only one vendor is able to do so within the time frame and/or under the terms and conditions which reasonably meet the needs of the using agency, or when there is a sole distributor or manufacturer of a product or service such that there is no acceptable substitute within a specific geographical area”; and
WHEREAS, the Police Department recommends that the (36) semi-automatic handguns be declared surplus equipment and authorize the disposition thereof pursuant to Section 3.44.150 Disposition of Surplus Supplies and Equipment of the Irwindale Municipal Code.

NOW, THEREFORE, the City Council of the City of Irwindale, California, resolves, determines and orders as follows:

SECTION 1. Determine that the (36) semi-automatic handguns be declared surplus equipment and authorize the disposition thereof pursuant to Section 3.44.150 Disposition of Surplus Supplies and Equipment of the Irwindale Municipal Code, and that any proceeds from the disposition or sale of the surplus weapons are to be used as credit for L.C. Action to offset purchasing cost of the new Glock handguns.

SECTION 2. This resolution shall be effective upon adoption.

PASSED, APPROVED AND ADOPTED this 25th day of March 2026.

Resolution No. 2026-20-3731

________________________
H. Manuel Ortiz, Mayor
ATTEST:
_______________________________
Laura Nieto, CMC
Deputy City Clerk
STATE OF CALIFORNIA }
COUNTY OF LOS ANGELES } ss.

CITY OF IRWINDALE }
I, Laura Nieto, Deputy City Clerk of the City of Irwindale, do hereby certify that the foregoing Resolution No. 2026-20-3731 was duly and regularly passed and adopted by the City Council of the City of Irwindale at its regular meeting held on the 25th day of March 2026, by the following vote:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

ABSTAIN: Councilmembers:

Laura Nieto, CMC
Deputy City Clerk

Item #17.H.

Date: March 25, 2026
To: Honorable Mayor and Members of the City Council
From: Julian A. Miranda, City Manager
Issue: Resolution to Excuse Councilmember Manuel R. Garcia from the regular meeting of February 25, 2026
City Manager's Recommendation:

Adopt Resolution No. 2026-25-3736 entitled, "A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF IRWINDALE EXCUSING THE ABENCE OF COUNCILMEMBER MANUEL R. GARCIA FROM THE REGULAR CITY COUNCIL MEETING HELD FEBRUARY 25, 2026" reading by title only and waiving further reading thereof.

Administrative Action:

Submitted by:

Theresa Olivares, Assistant City Manager
Prepared by:

Laura Nieto, Chief Deputy City Clerk
Reviewed by:

Adrian R. Guerra, City Attorney
Approved by:

Julian A. Miranda, City Manager
Background and Analysis:

Councilmember Manuel R. Garcia was unable to attend the regular meeting of the City Council held on February 25, 2026. Councilmember Garcia notified the City Clerk’s office on the day of the meeting

that the absence was due to illness. At the meeting of March 11, 2026, Councilmember Garcia requested that the City Council formally excuse the absence.

While the City Charter and Municipal Code do not require formal action to excuse an absence, the item has been placed on the agenda in order to reflect the reason for the absence in the official record.

Fiscal Impact:

None
Attachments:

1. Resolution 2026-25-3736 - Excusing CM Garcia Absence

Resolution No. 2026-25-3736

RESOLUTION NO. 2026-25-3736

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF IRWINDALE EXCUSING THE ABSENCE OF COUNCILMEMBER MANUEL R. GARCIA FROM
REGULAR CITY COUNCIL MEETING HELD FEBRUARY 25, 2026
WHEREAS, the City Council held its regular meeting on February 25, 2026; and WHEREAS, Councilmember Manuel R. Garcia was unable to attend the meeting due to illness; and

WHEREAS, Councilmember Garcia has requested that the City Council formally excuse the absence for the official record.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF IRWINDALE, CALIFORNIA, HEREBY RESOLVES, DETERMINES AND ORDERS AS FOLLOWS:

SECTION 1. The above recitals are true and correct and fully incorporated into the Resolution by reference.

SECTION 2. The absence of Councilmember Manuel R. Garcia from the regular City Council meeting of February 25, 2026 is hereby excused.

SECTION 3. That the Chief Deputy City Clerk shall attest to the adoption of this resolution which shall, in turn, have immediate effect.

PASSED, APPROVED AND ADOPTED this ____day of March 2026. __ _____
H. Manuel Ortiz Mayor
ATTEST:
_______________________________
Laura M. Nieto, MMC
Chief Deputy City Clerk

Resolution No. 2026-25-3736

STATE OF CALIFORNIA }
COUNTY OF LOS ANGELES } ss.

CITY OF IRWINDALE }
I, Laura Nieto, Chief Deputy City Clerk of the City of Irwindale, do hereby certify that the foregoing Resolution No. 2026-25-3736 was adopted at a regular meeting of the City Council held on _____________,2026 by the following vote:

AYES: Councilmembers:

NOES: Councilmembers:

ABSENT: Councilmembers:

ABSTAIN: Councilmembers:

Laura M. Nieto, MMC
Chief Deputy City Clerk

Item #19.A.

Date: March 25, 2026
To: Honorable Mayor and Members of the City Council
Honorable Chair and Members of the Successor Agency Board Honorable Chair and Members of the Housing Authority Board From: Julian A. Miranda, City Manager/Executive Director Issue: Annual Comprehensive Financial Report for the Fiscal Year Ended June 30, 2025 City Manager's Recommendation:

That the City Council, Successor Agency to the Irwindale Community Redevelopment Agency, and the Irwindale Housing Authority receive and file the Annual Comprehensive Financial Report and Supplemental Audit Letters for the Fiscal Year Ended June 30, 2025.

Administrative Action:

Submitted / Prepared / Reviewed by:

Kambiz Borhani, Finance Director / City Treasurer
Approved by:

Julian A. Miranda, City Manager / Executive Director
Background and Analysis:

The City’s Finance Department Staff is required to present to the City Council the City of Irwindale’s annual financial statements and the results of the financial audit for the fiscal year ended June 30, 2025. The statements are referred to collectively as an Annual Comprehensive Financial Report (ACFR).

The format and content requirements for ACFRs are set forth in guidelines developed by the Government Finance Officers Association of the United States and Canada (GFOA) and the California Society of Municipal Finance Officers (CSMFO).

The ACFR is composed of three (3) major sections as follows:

• The Introductory Section includes:
o The Letter of Transmittal
o A List of Principal City Officials at fiscal year-end o An Organization Chart at fiscal year-end
o A copy of the GFOA Award received for Excellence in Financial Reporting for the prior year’s ACFR.
• The Financial Section includes:
o The Independent Auditors’ Report
o Management’s Discussion and Analysis Report (MD&A)
o Financial Statements
o Notes to the Financial Statements
o Required Supplementary Information
• The Statistical Section includes:
o Financial Trend information
o Revenue Trend Information
o Debt Capacity
o Demographic and Operating Information
The financial statements were audited by the independent public accounting firm of LSL, LLP, Certified Public Accountants, whose unmodified opinion is included within the financial section of the report. An unmodified opinion indicates that the financial statements present fairly the financial position of the City of Irwindale as of June 30, 2025, and the results of operations are in accordance with generally accepted accounting principles (GAAP).

The audited financial statements are for the City of Irwindale, which is the primary government, and for the component entities of the Irwindale Housing Authority, Irwindale Reclamation Authority, and the City of Irwindale as Successor Agency of the former Irwindale Community Redevelopment Agency.

As part of the audit, the auditors also reviewed and performed tests of the City’s internal control procedures to determine if there are any deficiencies or instances of non-compliance. The results of these tests confirmed the City of Irwindale is in compliance with government auditing standards and no deficiencies were identified in the City’s internal control structure.

Supplemental Audit Letters attached as part of the ACFR packet provide more detailed information regarding these results, and they include the following three supplemental Audit Letters:
• The Audit Communication Letter

• The Independent Auditors’ Report on Internal Control over Financial Reporting and on Compliance and Other Matters based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards
• The Independent Accountants’ Report on Agreed-Upon Procedures Applied to Appropriations Limit Worksheets
The City of Irwindale ACFR for the fiscal year ending June 30, 2025, is available for review in the City Clerk’s Office, the Irwindale Library, or the Finance Department. In addition, the ACFR is distributed to all City Council members, various federal and state government agencies, rating agencies and financial institutions, and is also made available on the City of Irwindale website for interested citizens.

Fiscal Impact:

The Annual Comprehensive Financial Report summarizes the financial position of the City of Irwindale, and its component units, as of June 30, 2025. There is no fiscal impact to approve the financial statements.

Attachments:

1. A. ACFR for the FY ended June 30, 2025

2. B. Audit Communication Letter

3. C. Independent Auditors' Report on Internal Control over Financial Reporting

4. D. Independent Accountant's Report on the Appropriations Limit

CITY OF IRWINDALE, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Prepared by the Finance Department

CITY OF IRWINDALE, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Table of Contents
INTRODUCTORY SECTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i Letter of Transmittal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ii List of Principal Officials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vii Organization Chart . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . viii Certificate of Achievement for Excellence in Financial Reporting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ix FINANCIAL SECTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Independent Auditors’ Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Management’s Discussion and Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Basic Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Government-Wide Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Statement of Net Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Statement of Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Fund Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Balance Sheet - Governmental Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities . . . . . . . . . . . . . . . . . . . . . . . 30 Fiduciary Fund Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Statement of Fiduciary Net Position - Fiduciary Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Statement of Changes in Fiduciary Net Position - Fiduciary Funds . . . . . . . . . . . . . . . . . . . . . 33 Notes to The Basic Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34 Page
3

CITY OF IRWINDALE, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Page
Required Supplementary Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 Schedules of Proportationate Share of Net Pension Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77 Schedule of Changes in Net Pension Liability and Related Ratios - Retirement Enhancement Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78 OPEB Plan - Schedule of Changes in the Net OPEB Liability and Related Ratios . . . . . . . . . . . . . . 80 Schedules of Plan Contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82 Budgetary Comparison Schedule - General Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 Budgetary Comparison Schedule - Housing Authority . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84 Budgetary Comparison Schedule - Mining Impact Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 Supplementary Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86 Combining Balance Sheet - Nonmajor Governmental Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Governmental Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92 Budgetary Comparison Schedules . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 Reclamation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98 AB939 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 99 Asset Forfeiture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 State Gas Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 Air Quality Improvement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102 Proposition A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103 Proposition C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104 Measure R . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 TDA Article 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 Federal Grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107 Community Development Block Grant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108 State Grants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 COPS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 Asset Forfeiture State Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 Measure M . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112 Safe Clean Water Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113 Development Impact Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114 Capital Projects Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116 Combining Fiduciary Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117 Combining Statement of Fiduciary Net Position - All Custodial Funds . . . . . . . . . . . . . . . . . . . . . 118 Combining Statement of Changes in Fiduciary Net Position - All Custodial Funds . . . . . . . . . . . 119 4

CITY OF IRWINDALE, CALIFORNIA
Annual Comprehensive Financial Report
For the Year Ended June 30, 2025
Table of Contents
Page
STATISTICAL SECTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 120 Financial Trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122 Net Position by Component - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123 Changes in Net Position - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124 Fund Balances Governmental Funds - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 Changes in Fund Balances of Governmental Funds - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . 126 Revenue Capacity Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 127 Governmental Activities Tax Revenues by Source - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . 128 Mining Tax Revenues - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129 Mining Tax Rates - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 Principal Mining Taxpayers - Current Year and Nine Years Ago . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131 Assessed Value and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years . . . . . . . . 132 Direct and Overlapping Property Tax Rates - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . 133 Principal Property Taxpayers - Current Year and Nine Years Ago . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134 Property Tax Levies and Collections - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 Taxable Sales by Category - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 136 Ratios of Outstanding Debt by Type - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137 Debt Capacity Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 138 Top 25 Sales Tax Producers - Current Year and Nine Years Ago . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 139 Bonded Debt Pledged Revenue Coverage Successor Agency Tax Allocation Bonds - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140
Direct and Overlapping Debt - As of June 30, 2025 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141 Legal Debt Margin Information - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 142 Demographic and Economic Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 143 Demographic and Economic Statistics - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 144 Principal Employers - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 145 Operating Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 146 Full-time and Part-time City Employees by Function - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . 147 Operating Indicators by Function - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 148 Capital Asset Statistics by Function - Last Ten Fiscal Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 149 5

INTRODUCTORY SECTION
i

Letter of Transmittal
January 28, 2026
Honorable Mayor, Members of the Council,
& Citizens of the City of Irwindale
It is our pleasure to submit the Annual Comprehensive Financial Report (ACFR) for the City of Irwindale (City) for the fiscal year ended June 30, 2025. The City annually issues a report on its financial position and activity, audited by an independent firm of certified public accountants. The City’s Finance Department prepared this report in accordance with generally accepted accounting principles (GAAP), as set forth by the Governmental Accounting Standards Board (GASB) and other sources. This ACFR conforms to GASB Statement 34 financial reporting standards, providing the reader with a dualperspective financial report and GASB 54 that requires fund balance reporting and governmental fund type definitions. The ACFR also complies with GASB 68, 75, 87, 96, 101, and 102, which requires additional detailed financial information on the City’s pension, other post-employment benefits, leases, and subscription-based information technology arrangements. The report contains a citywide view of all governmental activities, as well as a focus on the financial position and operating results of the City’s major funds.

Responsibility for the accuracy of the data, and the completeness and fairness of the presentations and disclosures rests with the City. To provide a reasonable basis for making these representations, management has established a comprehensive internal control framework that is designed both to protect the City’s assets from loss, theft, or misuse, and to compile sufficient reliable information for the presentation of the City’s financial statements in conformity with accounting principles generally accepted in the United States of America. Because the cost of internal controls should not outweigh their benefits, internal controls have been designed to provide reasonable rather than absolute assurance that the financial statements will be free from material misstatement. As management, we assert that, to the best of our knowledge and belief, the enclosed data is accurate in all material respects and is reported in a manner designed to present fairly the financial position and results of operations of the various funds of the City. Also, all disclosures necessary to enable the reader to gain an understanding of the City’s financial activities have been included.

LSL, LLP, Certified Public Accountants, have issued an unmodified opinion on the City of Irwindale’s financial statement for the year ended June 30, 2025. The independent auditor’s report is located at the front of the financial section of this report.

GAAP requires that management provide a narrative introduction overview and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The City’s MD&A can be found immediately following the report of the independent auditors. ii

PROFILE OF THE GOVERNMENT
The City of Irwindale was incorporated in 1957 and is located in the center of the San Gabriel Valley which is just 20 miles east from downtown Los Angeles. The City is located at the confluence of the 605 and 210 freeways, providing an enviable location which attracts many large, well known and successful businesses. The City of Irwindale currently occupies a land area of about 9.5 square miles and serves a population of about 30,000 during business day and approximately 1,509 that reside in the City.

The City of Irwindale is a full service, charter city. A charter city allows voters to determine how their city government is organized and, with respect to municipal affairs, enact legislation different than that adopted by the state. The City endeavors to create a livable community with a high quality of life through land-use policies that balance the need for housing, jobs, open space and essential services.

The city is a legally separate and fiscally independent agency. It can issue debt, set and modify budgets, charge fees, and sue and be sued.

The City of Irwindale operates under the Council-Manager form of government with a five-member council, elected at large by the city residents. The City Council acts as the legislative body of the City.

City Council members appoint the City Manager and City Attorney. City Council members serve fouryear terms with elections staggered every two years. The Mayor and Mayor Pro-Tem are chosen by the Council to serve as the presiding officers. Traditionally, these positions serve a one-year term. The City Manager is responsible for carrying out the policies and ordinances of the governing council, for overseeing the day-to-day operations of City government, and working with the directors and managers of City departments.

The City provides a full range of services, including police protection; construction and maintenance of highways, streets and other infrastructure; community development; community services (such as recreation, senior center, aquatics, and library programs); parks; general and administrative services.

The City is financially accountable for the successor agency to the former redevelopment agency, a housing authority, a reclamation authority, and a joint powers authority (which had no activity to report in FY 2024-2025) all of which are reported separately with the City’s financial statements. Additional information regarding these legally separate entities can be found in the notes to the financial statements.

The Council is required to adopt a final budget by no later than the close of the fiscal year. The annual budget serves as the foundation for the City of Irwindale’s financial planning and established control.

The budget is prepared by fund, department, and division, and all funds of the City are appropriated annually. Department heads may transfer resources within a department as needed and available, and the City Manager has authority to transfer resources within an individual fund. Supplemental appropriations and transfers between funds require approval from the governing body. iii

REPORTING ENTITY
The California Supreme Court upheld Assembly Bill 1X 26 that provided for the dissolution of all redevelopment agencies in the State of California as of February 1, 2012. This action impacted the reporting entity of the City of Irwindale that previously reported a redevelopment agency within the reporting entity of the City as a blended component unit. On January 11, 2012, the City Council elected the City to become the Successor Agency to the former Irwindale Community Redevelopment Agency in accordance with Assembly Bill 1X 26. Additional information on the dissolution is included in Note 12 of the Notes to the Financial Statements.

This report combines the financial statements of the City of Irwindale, the Successor Agency, to the Irwindale Community Redevelopment Agency, the Irwindale Housing Authority, the Irwindale Reclamation Authority, and the Irwindale Joint Powers Authority to constitute a single reporting entity.

This combined presentation better represents the financial activities of the City of Irwindale.

ECONOMIC CONDITION AND OUTLOOK
During this fiscal year California state economy experienced weak labor market and slowing of nonresidential construction, and despite all the challenges like interest rates, volatile market, elevated trade tensions with tariff policies, the ongoing Russia-Ukraine war, conflict in the Middle East and Venezuela, climate change, and the most recent major tax law “One, Big, Beautiful Bill Act,” the efforts taken by the City to control or reduce costs have kept the City’s reserves at a very strong level. City staff continue to approach budgeting conservatively, projecting revenues at the low end of expectations and expenditures at potential full cost.

Economic development projects in the City that have recently been completed, or are currently in progress, have contributed to the City’s revenue base by bringing in significant additional buildingrelated revenue. The City is fortunate that building and construction activities were not restricted during the pandemic, and therefore the revenue losses caused by the pandemic were offset by the significant building-related revenue the City has received.

In 2011, the City adopted a fund balance policy in compliance with Governmental Accounting Standards Board Statement No. 54. This fund balance policy includes a requirement of a minimum of $5 million assigned for economic contingencies. The assigned and unassigned fund balances in the General Fund total approximately $68 million, which equates to approximately 222% of the General Fund operating expenditure budget adopted for the following fiscal year. These reserves are assigned, or set aside, for several purposes, including capital asset replacement, capital improvement program, continuing appropriations, compensated absences, pension and other post-retirement benefits, and economic contingencies.

LONG-TERM FINANCIAL PLANNING
The City has consistently maintained strong financial reserves, and therefore the City remains cautiously optimistic as it faces the challenges of the downturn in the economy caused by the pandemic.
iv

However, as part of the City’s long-term financial planning, it is still actively looking to generate more General Fund revenue to offset future expenditure increases. Some of the initiatives include adoption of a new ¼% Supplemental Transactions and Use Tax Measure IR going in effect as of April 1, 2025, a Commercial Linkage Fee on future development projects to generate revenue earmarked specifically for Housing Authority activities, and a .75% local Transactions and Use Tax Measure I that went into effect on April 1, 2020.

On the expenditure side, the City has also adopted significant policies to control future increases where possible. In addition to restructuring its risk management and liability program, the City has also taken strong measure to address its increasing pension and other post-retirement benefits liabilities.

The City is also continuing its concerted efforts in economic development. The City’s Economic Strategic Plan was updated, and it outlined the City’s best course of long-term economic strategies to create a sustainable stream of new revenues, while maximizing and leveraging development opportunities. Also, the City has a sales tax sharing agreement as part of its economic development strategies with the Home Depot.

Some of the priority near-term and long-term development opportunities include:
• Industrial/commercial development: Speedway Drive
• Development Agreement: 210 FWY & 605 FWY
• Development Agreement: 4800 Rivergrade Road
• Industrial Development: 13620 Live Oak Avenue
• Industrial Development: 1600 Arrow Highway
• Industrial Development: 5555 Irwindale Avenue
• Industrial Development: 15801 First Street
• Industrial Development: 4500 Azusa Canyon Road
• Development Agreement: 901 Live Oak Ave.
• Development Agreement: 1270 Arrow Hwy
• Development Agreement: 4407 Azusa Canyon Road
• Development Agreement: 12701 Schabarum
• Conditional Use Permit: 5263 4th Street
• Development Agreement: 13550 Live Oak Avenue
The City Council continues to prioritize its focus on discussing the vision for the Allen Drive Site. A feasibility study will be conducted to assess development scenarios including various housing types and income levels by June of 2025.

CAPITAL IMPROVEMENT PROGRAM (CIP)
The City of Irwindale continues to complete capital and infrastructure projects to improve services to residents and visitors to Irwindale. Funding for CIP is often from sources other than the General Fund.

Project funding sources typically include the Mining Impact Fund, State Gas Tax, Proposition C, Measure R, TDA Article 3, Measure M, Measure W, Community Development Block Grants, Federal/ State Grants, and Development Impact Fees.
v

During FY 2024-25, the City of Irwindale spent approximately $5.5 million on infrastructure and capital improvements. The project completed includes the improvements made to Parks and Recreational Center Roofing and HVAC units, Aquatics Swimming Pool Heater, Veterans Monument, Street Improvements, and Resurfacing Project. During FY 2022-23, the City received $6,635,594 in grant funding for the design and construction of a new city library which is expected to be completed in June of 2026.

AWARDS AND ACKNOWLEDGEMENTS
The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Irwindale for its Annual Comprehensive Financial Report (ACFR) for the fiscal year ended June 30, 2024. This was the fifteenth consecutive year the City received this prestigious award. To be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized ACFR. This report must satisfy both generally accepted accounting principles and applicable legal requirements.

A Certificate of Achievement is valid for a period of one year only. We believe the current ACFR continues to meet the Certificate of Achievement Program’s requirements, and we are submitting it to the GFOA to determine its eligibility for another certificate.

The City’s ACFR was prepared through the combined efforts of City staff, under the leadership of the City Council. We would like to extend our appreciation to the Mayor and City Council for their continued support in maintaining the highest standards of professionalism in the management of the City’s finances. Special recognition is extended to the Finance Department Staff for their hard work and dedication throughout the year.

The ACFR is available on the City’s website at www.IrwindaleCA.gov.

Respectfully submitted,
Kambiz Borhani, CPA, CGMA Julian A. Miranda
Finance Director / City Treasurer City Manager
vi

CITY OF IRWINDALE

LIST OF PRINCIPAL OFFICIALS
JUNE 30, 2025
List of Principal Officials

ELECTED OFFICIALS
Mayor ........................................................................... Larry G. Burrola Mayor Pro Tem ............................................................ H. Manuel Ortiz Councilmember............................................................ Albert F. Ambriz Councilmember ......................................................... Mark A. Breceda Councilmember ........................................................ Manuel R. Garcia

EXECUTIVE MANAGEMENT
City Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Julian A. Miranda Assistant City Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Theresa Olivares Finance Director/City Treasurer . . . . . . . . . . . . . . . . . . . . . . . Kambiz Borhani Chief of Police . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Christopher Hofford Director of Engineer/Building Official . . . . . . . . . . . . . . . . . . . . . . .Eddie Chan Community Development Director . . . . . . . . . . . . . . . . . . . . . Marilyn Simpson Public Services Director . . . . . . . . . . . . . . . . . . . . . . . . . . . Elizabeth Rodriguez Chief Deputy City Clerk . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Laura Nieto

CITY ATTORNEY
Adrian R. Guerra, Aleshire & Wynder, LLP
vii

CITY OF IRWINDALE

ORGANIZATION CHART
June 30, 2025
Organization Chart
viii

Certificate of Achievement for Excellence in Financial Reporting ix

FINANCIAL SECTION
1

INDEPENDENT AUDITORS’ REPORT
Independent Auditors’ Report
To the Honorable Mayor and Members of the City Council
City of Irwindale, California
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the City of Irwindale, California (the “City”), as of and for the year ended June 30, 2025, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the City, as of June 30, 2025, and the changes in financial position, for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions.

Responsibilities of Management for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for twelve months beyond the financial statement date, including any currently known information that may raise substantial doubt shortly thereafter.

Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinions.

Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.
2

In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the City’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, budgetary comparison information, and required pension and other postemployment benefits schedules, as listed on the table of contents, be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance.

Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The accompanying combining and individual fund financial statements and schedules (“supplementary information”) are presented for purposes of additional analysis and are not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the supplementary information is fairly stated, in all material respects, in relation to the basic financial statements as a whole.

To the Honorable Mayor and Members of the City Council
City of Irwindale, California
3

Other Information
Management is responsible for the other information included in the annual report. The other information comprises the introductory and statistical sections but does not include the basic financial statements and our auditor’s report thereon.

Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or any form of assurance thereon.

In connection with our audit of the basic financial statements, our responsibility is to read the other information and consider whether a material inconsistency exists between the other information and the basic financial statements, or the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that an uncorrected material misstatement of the other information exists, we are required to describe it in our report.

Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated January 28, 2026, on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance.

Irvine, California
January 28, 2026
To the Honorable Mayor and Members of the City Council
City of Irwindale, California
4

MANAGEMENT’S DISCUSSION AND ANALYSIS
5

As management of the City of Irwindale, California (City), we offer readers of the City’s financial statements this narrative overview and analysis of the financial activities of the City (the “Primary Government”) for the fiscal year ended June 30, 2025. It is encouraged that the readers consider the information presented here in conjunction with the accompanying basic financial statements.

FINANCIAL HIGHLIGHTS
• The assets and deferred outflows of resources of the City exceeded their liabilities and deferred inflows of resources at the close of fiscal year (FY) 2024-25 by $171,543,110 (Net Position). This amount is reflective of the entire City which includes all funds. Of this amount, $66,880,916 is not restricted by external law or administrative action for a specified purpose. The City Council’s approval is required before these funds may be used to meet the City’s ongoing obligations to citizens and creditors. GASB defines “Net Position” as assets and deferred outflows of resources less liabilities and deferred inflows of resources. GASB requires the City to record infrastructure assets (streets, parks, buildings, etc.) less accumulated depreciation as a restricted fund balance titled, “Invested in Capital Assets” ($62,468,632). Restrictions for Special Revenue Funds ($42,193,562) reduces the Total Net Position to the Unrestricted Net Position ($66,880,916).
• Cash and Investments are $123,268,481 while Total Liabilities are $56,421,669; therefore, the City has Cash and Investments in excess of Total Liabilities of $66,846,812. In other words, Cash is approximately two times the amount of Total Liabilities.
• The City has zero bonded indebtedness and no bank loans. • The City’s Total Net Position decreased by $3,956,398 during the fiscal year. • As of June 30, 2025, the City’s governmental funds (General Fund, Special Revenue Funds and Capital Projects Funds) reported combined ending fund balances of $120,860,914, an increase of $3,164,708 from the prior year. • On June 30, 2025, fund balances for the General Fund were $67,552,080 ($6,245,010 is in nonspendable form, $5,000,000 is assigned for an economic contingency reserve, and $56,307,070 assigned for other specific purposes.)

OVERVIEW OF THE BASIC FINANCIAL STATEMENTS
This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements. The City’s basic financial statements are comprised of three components:
1) Government-wide financial statements
2) Fund financial statements
3) Notes to basic financial statements

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
6

Other required supplementary information is included in addition to the basic financial statements.

Government-Wide Financial Statements. These statements are designed to provide readers with a broad overview of the City’s finances, in a manner similar to a private-sector business.

The governmental activities of the City include general government, public safety, public works, parks and recreation, capital outlay, and debt service. The City does not have any businesstype activities.

The statement of net position presents financial information on all of the City’s assets, liabilities, and deferred inflows/outflows of resources, with the difference reported as net position. Over time, increases or decreases in net position may serve as a useful indicator of whether the financial position of the City is improving or deteriorating.

The statement of activities presents information showing how the City’s net position changed during the most recent fiscal year. All changes in net position are reported as soon as the underlying event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenditures are reported for some items that will only result in cash flows in future fiscal periods (i.e., uncollected taxes and earned but unused leave).

The government-wide financial statements include not only the City as the primary government, but also a legally separate Irwindale (Public Financing, Housing, Reclamation, Industrial Development, and Joint Powers) Authorities, and Irwindale Community Foundation (a nonprofit entity) of the City. Although legally separate from the City, these component units are blended with the primary government because of their governance or financial relationships to the City.

GASB 68 reporting for pension was implemented eleven years ago and the figures are recorded on government-wide statements. The City has a net pension liability with CalPERS for $9,625,201, and a net pension liability of $2,409,789 with PARS, reflecting an overall net pension liability of $12,034,990.

GASB 75 reporting for other post-employment benefits (OPEB) was implemented in FY 2017-2018. The City has an OPEB liability of $16,266,350.

GASB 87 reporting for leases was implemented in FY 2021-2022. The City has a lease liability of $76,616.

GASB 96 reporting for subscription-based information technology arrangement (SBITA) was implemented in FY 2022-2023. The City has a SBITA liability of $221,460.

The Redevelopment Agency of the City of Irwindale (Agency) was dissolved on February 1, 2012 as legislated in Assembly Bill x1 26. Its Successor Agency is shown as a Private Purpose Trust Fund.

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
7

Fund Financial Statements. A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the City can be divided into two categories: governmental funds and fiduciary funds.

Governmental Funds. Governmental Funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements.

However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information may be useful in assessing the City’s near-term financing requirements.

Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the City’s near-term financing decisions. Both the governmental fund balance sheet and the governmental fund statement of revenues, expenditures and changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds and governmental activities.

The City maintains a variety of individual governmental funds. Information is presented separately in the governmental fund balance sheet and in the governmental fund statement of revenues, expenditures, and changes in fund balances for the General Fund, Housing Authority, Mining Impact Fund, and Capital Projects. All of which are considered to be major funds. Data from the remaining governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these other governmental funds is provided in the form of combining statements in the other governmental funds section of this report.

The City adopts an annual budget for all its funds. A budgetary comparison statement is provided for all funds with an annually adopted budget to demonstrate compliance with their respective budgets.

Fiduciary Funds. Fiduciary funds, which consist solely of trust and agency funds, are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reported in the government-wide financial statements because the resources of those funds are not available to support the City’s own programs. Fiduciary funds are custodial in nature and, therefore, the accounting used does not involve the measurement of the results of operations. The basic fiduciary fund financial statement can be found on pages 31-33 of this report. The assets, liabilities, fund equity and operations of the dissolved Agency were transferred to the “Successor Agency Private Purpose Trust Fund”.

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
8

Notes to the Basic Financial Statements. The notes provide additional information that is necessary to acquire a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 34-75 of this report.

GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, net position over time may serve as a useful indicator of a government’s financial position. In the case of the City, assets and deferred outflows of resources exceeded liabilities by $171.5 million at the close of the most recent fiscal year.

City of Irwindale’s Net Position

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
9

By far, the largest portion of the City’s net position (36.4%) reflects its investment in capital assets, (i.e., land, buildings, machinery, equipment, vehicles and infrastructure), less any related outstanding debt that was used to acquire those assets. The City uses these capital assets to provide a variety of services to its citizens. Accordingly, these assets are not available for future spending. Although the City’s investment in capital assets is reported net of related debt, it should be noted that the resources used to prepay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.

An additional portion of the City’s net position (24.6%) represents resources that are subject to external restrictions on how they may be used. The remaining balance of $66,880,916 is unrestricted and may be used to meet the government’s ongoing obligations to its citizens and creditors, subject to applicable federal and state laws and regulations.

At the end of the current fiscal year, the City is able to report in all reported categories of net position, both for the City as a whole, as well as for its separate governmental activities. The same situation held true for the prior fiscal year.

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
10

The City’s overall net position increased $3,956,398 from the prior fiscal year. The reasons for this overall increase are discussed in the following sections for governmental activities.

Governmental Activities. During the current fiscal year, net position for governmental activities increased by $4.0 million from the prior fiscal year’s restated balance bringing this year’s ending net position balance to $171,543,110. Key elements of this surge are a combination of factors highlighted below.

Revenue Highlights
Total revenues of governmental activities were $43.1 million. The largest component of total revenue is taxes at $27.5 million, making up 64% of total revenues. This is consistent with the nature and purpose of governmental funds, particularly in the General Fund, where programs are largely supported by general taxes. Revenues decreased by $6.1 million in development-related fees that the City collects as charge for services. Taxes also dropped by $1.6 million mainly due to lower sales and mining taxes received. Capital grants for the Library and other projects decreased by $1.7 million. Operating grants increased by $678 thousand along with investment income earned in the amount of $1 million due to financial markets performing better. These variations combined explain the overall decrease of approximately $7.7 in revenues.

Expense Highlights
Functional expenses for the year totaled $39.2 million in government funds, which was a decrease of approximately $1,535,000 from the prior year. Reduction was due to $1.2 million in capital assets, $482 thousand in pension benefit obligations, $12 thousand for compensated absences, offset by an increase of $137 thousand for other postemployment benefits obligations plus the remaining $22 thousand for fluctuations in the remaining expense categories causing an overall reduction from prior year.

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
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City of Irwindale’s Changes in Net Position

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
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CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
13

FINANCIAL ANALYSIS OF THE CITY’S MAJOR FUNDS
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements.

Governmental Funds. The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balance of spendable resources. Such information is useful in assessing the City’s financing requirements. In particular, unassigned fund balance may serve as a useful measure of government’s net resources available for discretionary use as they represent the portion of fund balance which has not yet been limited to use for a particular purpose by either an external party, the City itself, or a group or individual that has been delegated authority to assign resources for use for particular purposes by the City Council.

On June 30, 2025, the City’s governmental funds reported combined fund balances of $120,860,914, an increase of $3,164,708 in comparison with the prior year. $6,246,843 or

5.2% is nonspendable, $42,193,562 or 34.9% is restricted by external sources, and $72,458,609 or 60.0% assigned for other specific purposes deemed appropriate by the City Council.

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
14

General Funds
The general fund is the main operating fund of the City. At fiscal year-end, its fund balance was $67,552,080 (consisting of $6,245,010 in nonspendable form, $5,000,000 assigned to economic contingency reserve, and $56,307,070 assigned for other specific purposes,) which increased by $5,157,336 over the prior year. This increase is mostly attributed to higher revenues received in Taxes, Development related fees, and Use of Money and Property. Also, as a measure of the general fund’s liquidity, it may be useful to compare total fund balance to total funds’ expenditures. Industry’s best practice is to maintain no less than two months of regular general fund operating expenditures. Based on current year’s General Fund expenditures and transfers out amount, two months equates to approximately $5 million dollars, which is consistent with both City Council policy requiring the City to maintain a minimum General Fund economic contingency of $5 million dollars, and as a matter of standard practice recommended in the industry.

Revenues and expenditures differences between actuals and the final budget for FY 2024-25:
• Actual revenues and transfer in were higher by $6,557,523 or 23% with two of the largest variances: 1) taxes, which increased due to volume and use; 2) investment earnings, which are difficult to estimate since they are dependent on market performance. • Actual expenditures were under budget by $3,644,248 mainly due to salary savings from vacant positions, curtailing costs due to price hikes due to inflation in addition to shifting operational priorities to deal with the state of emergency declared by the state officials to deal with wildfires.
• Transfers Out were under budget by $10,516,481 due to certain capital project timelines and/or costs shifted to next year.

Key factors for revenues and expenditures when compared to FY 2023-24 are as follows:
• The City’s taxes decreased by $967,138 or -4.0% mainly due to a drop in both sales and mining taxes collected. License & permits and charges for services also went down by $2,101,255 or -47% which is due to lower number of development application submittals. • Use of money and property increased by $837,832 or 16.3% due to fluctuations in investment earnings and market fair valuation.
• Miscellaneous type under other revenues decreased by $319,803 or -17.8% mainly due to donation from Irwindale Community Foundation.
• Expenditures and transfer-out decreased by $507,898 or -1.6% less than the prior year figure mainly due to capital improvement project completions such as those for park and recreational facilities and resurfacing of streets improvements.

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
15

Housing Authority Funds (Includes Low- and Moderate-Income Housing Asset Fund and Irwindale Housing Authority Fund)
The fund balance of the Housing Authority Fund decreased by $816,344, mostly due to property acquisition.

Mining Impact Fund
The fund balance of the Mining Impact Fund decreased by $2,384,168 due to changes made in both personnel and operational costs percentage distribution between Mining Impact Fund and General Fund, along with its overall revenues decreasing by 19%.

Capital Projects Fund
The fund balance of the Capital Project Fund increased by $48,804 due to higher interest rate earned and overall lower project expense incurred.

Non-Major Governmental Funds
The fund balance of all other Non-Major Governmental Funds increased by $1,159,080 from the previous fiscal year due to a large development impact fee received for a development project and higher investment earnings.

General Fund Budgetary Highlights
The City adopts an annual operating budget for its governmental funds (General Fund, Special Revenue Funds, Debt Service Funds, and Capital Project Funds) and reports the results of operation on a budget comparison basis.

In preparing its budgets, the City attempts to estimate its revenues using realistic, but conservative, methods so as to budget its expenditure appropriations and activities in a prudent manner. As a result, the City Council adopts budget adjustments during the course of the fiscal year to reflect both changed priorities and availability of additional revenues to allow for expansion of existing programs. During the course of the year, the City Council amended the originally adopted budget to re-appropriate prior year approved projects and expenditures, as well as approving many other adjustments for the current year.

The results of the General Fund for the year ended June 30, 2025, were revenues exceeding expenditures by $5,157,336. Revenues plus Transfers In were $6,557,523 more than the final budget and expenditures plus Transfers Out ended the year under budget (final) by $14,160,729. Both inflation and fire disasters experienced adversely impacted General Fund expenditures and city services. To mitigate, the City significantly curtailed its non-essential expenditures during the last fiscal year in order to provide as much relief for the General Fund as possible. Compared to prior year, the General Fund experienced immense fluctuations in both revenues and expenditures.

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
16

CAPITAL ASSETS
The City’s investment in capital assets for its governmental activities as of June 30, 2025, amounts to $63,298,801 million (net of accumulated depreciation). This investment in capital assets includes land, rights of way, construction in progress, buildings and improvements, machinery and equipment, and infrastructure. The total increase in capital assets for the current fiscal year was approximately 10.8%.

CITY OF IRWINDALE’s Capital Assets (net of depreciation) GASB 34 requires the City account for infrastructure assets on its financial statements. The accompanying government-wide financial statements include those infrastructure assets that were either completed during the current fiscal year or considered construction in progress at current fiscal year-end.

Additional information on the City’s capital assets can be found in Note 6.

EMPLOYEE COMPENSATED ABSENCES
As of June 30, 2025, the City employees’ benefit obligations increased by $36,461 or 1.7% from prior year after implementation of GASB 101.

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
17

ECONOMIC FACTORS AND NEXT YEAR’S BUDGET
California economy showed a mixed picture from showing significant growth in tech/AI to slower job creation, rising unemployment, immigration raids, massive wildfires and a budget deficit creating all sorts of fiscal challenges. California also continues to struggle with housing shortage and Irwindale are looking to direct its focus on discussing the vision for the site on Allen Drive. City Council will be evaluating its potential uses which may include housing and/or public facilities. Community development workshops will be planned and scheduled to take place starting in March of 2026.

The City has protections from the State taking our monetary resources as a result of the passage of Proposition 1A in November 2004 and Proposition 22 in November 2010.

However, on July 29, 2011, the Governor of the State of California signed Assembly Bills x1 26 (ABx1 26) and on December 29, 2011, the California Supreme Court issued their ruling upholding the constitutionality of ABx1 26; thereby all redevelopment agencies within the State of California were abolished, effective February 1, 2012. The City’s loss of its’ Redevelopment Agency eliminated about $1.5 million for local affordable housing and another $700,000 in local funding of capital projects. The City has focused on strengthening its long-term fiscal health by using conservative approach in building its reserves to accomplish its strategical goals. To ensure long-term fiscal viability, during labor contract negotiations, the City made substantial changes to compensation, retirement, and benefits structure, in addition to seeking additional funding and grants to augment its budgeting initiatives in providing extra resources for Police, Capital Improvement Projects, and Parks and Recreation programs and activities for the community. For FY 2025-26 budget, the City took into consideration the following factors:

For FY 2025-26 budget, the City took into consideration the following factors:
• Sales Tax revenues are projected to increase by $1.2 million than FY 2024-2025. • Property Tax and Vehicle License fees revenues are projected to decrease by $360 thousand.
• Mining related taxes are estimated to be $1.1 million more than last year. • Business License taxes are forecast to be $725 thousand less than the year before. • Franchise Tax revenue expects a decrease of $365 thousand from prior year. • Building Permits and Plan Check Fees revenues are estimated to be $1,755,000 for the year.
• The employee bargaining units negotiated a 4% employee compensation cost of living adjustment in addition to increase in health insurance premiums.

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
18

A priority of the City is to maintain high quality of services while adopting a balanced budget.

As in prior years, the FY 2025-26 budget as adopted by the City Council is a sustainable budget and will serve as a guide in planning for the future.

REQUESTS FOR INFORMATION
This report is designed to provide a general overview of the City’s finances for all those with an interest in the government’s finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to the office of the Finance Department, 5050 North Irwindale Avenue, Irwindale, CA 91706, or at www.IrwindaleCA.gov.

CITY OF IRWINDALE
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
19

BASIC FINANCIAL STATEMENTS
20

Government-Wide Financial Statements
21

Statement of Net Position
Cash and investments $ 123,268,481
Receivables:

Accounts 909,649
Taxes 3,882,446
Accrued interest 993,185
Notes and loans 11,046,266
Deposits 15,000
Leases 7,707,300
Restricted assets:

Cash with fiscal agent 22,592
Land held for resale 16,918,641
Prepaid costs 125,369
Capital assets (not being depreciated/amortized) 16,884,922 Capital assets (net of accumulated depreciation/amortization) 46,413,879 Total assets 228,187,730

DEFERRED OUTFLOWS OF RESOURCES
Pension-related 7,469,629
OPEB-related 4,420,758
Total deferred outflows of resources 11,890,387

LIABILITIES
Accounts payable 2,018,662
Accrued liabilities 443,894
Deposits payable 15,846,604
Unearned revenue 5,981,169
Due within one year:

Compensated absences, leases, and SBITA 1,027,913
Due in more than one year:

Compensated absences, leases, and SBITA 1,430,751
Net pension liability 12,034,990
Net OPEB liability 16,266,350
Total liabilities 55,050,333

DEFERRED INFLOWS OF RESOURCES
Pension-related 3,713,654
OPEB-related 1,286,115
Lease-related 7,113,569
Total deferred inflows of resources 12,113,338

NET POSITION
Net investment in capital assets 63,000,725
Restricted:

General government 119,452
Public safety 930,603
Parks and recreation 583,969
Public works 24,248,154
Capital projects 315,984
Housing activities 15,995,400
Unrestricted 67,720,159
Total net position $ 172,914,446
Governmental
Activities
ASSETS

CITY OF IRWINDALE, CALIFORNIA
Statement of Net Position
June 30, 2025
See accompanying Notes to the Basic Financial Statements 22

Statement of Activities
Net (Expenses)
Revenues and
Changes in Net
Position
Program Revenues Primary Government
Expenses
Charges for
Services
Operating
Contributions
and Grants
Capital
Contributions
and Grants
Governmental
Activities
Functions/Programs:

Primary government:

Governmental activities:

General government $ 14,059,338 $ 533,045 $ 1,694,897 $ - $ (11,831,396) Public safety 10,697,529 227,850 835,673 - (9,634,006)
Community development 1,199,070 - 46,711 - (1,152,359)
Parks and recreation 4,197,355 117,945 61,198 - (4,018,212) Public works 7,407,149 2,130,806 585,286 2,224,759 (2,466,298) Housing activities 1,658,909 - - - (1,658,909)
Interest on long-term debt 4,468 - - - (4,468)
Total governmental activities $ 39,223,818 $ 3,009,646 $ 3,223,765 $ 2,224,759 (30,765,648) General revenues:

General revenues:

Property taxes 2,648,190
Sales taxes 8,395,730
Franchise taxes 1,840,280
Business license taxes 2,595,160
Utility users tax 4,746,971
Mining/processing taxes 7,010,939
Motor vehicle in lieu 221,582
Use of money and property 7,785,324
Miscellaneous income 849,206
Total general revenues 36,093,382
Change in net position 5,327,734
Net position-beginning 167,965,794
Restatement - change in accounting principle (379,082)
Net position-beginning, as restated 167,586,712
Net position-ending $ 172,914,446

CITY OF IRWINDALE, CALIFORNIA
Statement of Activities
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 23

Fund Financial Statements
24

Balance Sheet - Governmental Funds
Special Revenue Funds
General Fund
Housing
Authority
Mining Impact
Fund
ASSETS
Cash and investments $ 72,807,229 $ 5,165,108 $ 12,537,924 Receivables
Accounts 175,013 - -
Taxes 3,053,141 - 818,158
Notes and loans 2,833 11,043,433 -
Deposits - 15,000 -
Leases 7,707,300 - -
Accrued interest 575,811 57,944 116,997
Due from other funds 28,025 - -
Prepaid costs 123,536 - 1,833
Land held for resale 6,118,641 10,800,000 -
Restricted assets:

Cash with fiscal agent 22,592 - -
Total assets $ 90,614,121 $ 27,081,485 $ 13,474,912

LIABILITIES
Accounts payable $ 943,740 $ 42,486 $ 464,998
Accrued liabilities 370,230 - 63,753
Unearned revenues 4,884,225 - 1,020,683
Deposits payable 9,685,595 - 772,272
Due to other funds - - -
Total liabilities 15,883,790 42,486 2,321,706

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues 64,682 11,043,433 -
Lease-related 7,113,569 - -
Total deferred inflows of resources 7,178,251 11,043,433 -

FUND BALANCES (DEFICITS)
Nonspendable:

Prepaid costs 123,536 - 1,833
Notes and loans 2,833 - -
Land held for resale 6,118,641 - -
Restricted:

Housing activities - 15,995,400 -
Public safety - - -
Parks and recreation - - -
Public works - - -
Capital projects - - -
General government - - -
Assigned
Capital asset replacement 15,798,744 - 4,259,378
Capital improvement program 10,211,441 - 577,733
Continuing appropriations 576,044 166 76,550
Compensated absences 1,750,076 - 367,300
Unfunded actuarial liabilities 27,970,765 - 5,870,412
Economic contingency 5,000,000 - -
Total fund balances (deficits) 67,552,080 15,995,566 11,153,206 Total liabilities, deferred inflows of resources, and fund balances (deficits) $ 90,614,121 $ 27,081,485 $ 13,474,912

CITY OF IRWINDALE, CALIFORNIA
Balance Sheet
Governmental Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements 25

Capital Projects
Fund
Capital Projects
Fund
Total Nonmajor
Funds
Total
Governmental
Funds
ASSETS
Cash and investments $ 6,278,875 $ 26,479,345 $ 123,268,481 Receivables
Accounts 109,941 624,695 909,649
Taxes - 11,147 3,882,446
Notes and loans - - 11,046,266
Deposits - - 15,000
Leases - - 7,707,300
Accrued interest 34,200 208,233 993,185
Due from other funds - - 28,025
Prepaid costs - - 125,369
Land held for resale - - 16,918,641
Restricted assets:

Cash with fiscal agent - - 22,592
Total assets $ 6,423,016 $ 27,323,420 $ 164,916,954

LIABILITIES
Accounts payable $ 532,093 $ 35,345 $ 2,018,662
Accrued liabilities - 9,911 443,894
Unearned revenues 76,261 - 5,981,169
Deposits payable 5,388,737 - 15,846,604
Due to other funds - 28,025 28,025
Total liabilities 5,997,091 73,281 24,318,354

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues 109,941 1,406,061 12,624,117
Lease-related - - 7,113,569
Total deferred inflows of resources 109,941 1,406,061 19,737,686

FUND BALANCES (DEFICITS)
Nonspendable:

Prepaid costs - - 125,369
Notes and loans - - 2,833
Land held for resale - - 6,118,641
Restricted:

Housing activities - - 15,995,400
Public safety - 930,603 930,603
Parks and recreation - 583,969 583,969
Public works - 24,248,154 24,248,154
Capital projects 315,984 - 315,984
General government - 119,452 119,452
Assigned
Capital asset replacement - - 20,058,122
Capital improvement program - - 10,789,174
Continuing appropriations - - 652,760
Compensated absences - - 2,117,376
Unfunded actuarial liabilities - - 33,841,177
Economic contingency - - 5,000,000
Unassigned - (38,100) (38,100)
Total fund balances (deficits) 315,984 25,844,078 120,860,914 Total liabilities, deferred inflows of resources, and fund balances (deficits) $ 6,423,016 $ 27,323,420 $ 164,916,954

CITY OF IRWINDALE, CALIFORNIA
Balance Sheet (Continued)
Governmental Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements 26

Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position Amounts reported for governmental activities in the Statement of Net Position are different because:

Total fund balances - governmental funds $ 120,860,914
Capital assets, net of accumulated depreciation/amortization, used in governmental activities are not financial resources and, therefore, are not reported in the funds. 63,298,801
Differences between expected and actual experiences, assumption changes and net differences between projected and actual earnings, and contributions subsequent to the measurement date for the postretirement benefits (pension and OPEB) are recognized as deferred outflows of resources and deferred inflows of resources on the Statement of Net Position.

Deferred outflows-pension related $ 7,469,629
Deferred outflows-OPEB related 4,420,758
Deferred inflows-pension related (3,713,654)
Deferred inflows-OPEB related (1,286,115)
Total deferred outflows and inflows related to postemployment benefits 6,890,618 Other long-term assets that are not available to pay for current period expenditures and, therefore, are either labeled unavailable or not reported in the funds.

Long-term receivables 12,624,117
Total other long-term assets 12,624,117
Long-term liabilities that are not due and payable in the current period, and therefore, are not reported in the funds.

Leases and SBITA payable (298,076)
Compensated absences (2,160,588)
Net pension liability (12,034,990)
Net OPEB liability (16,266,350)
Total long-term liabilities (30,760,004)
Net position of governmental activities $ 172,914,446

CITY OF IRWINDALE, CALIFORNIA
Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position June 30, 2025
See accompanying Notes to the Basic Financial Statements 27

Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds Special Revenue Funds
Housing
Authority
Mining Impact
General Fund Fund

REVENUES
Taxes $ 23,399,064 $ - $ 3,562,937
Licenses and permits 1,325,018 - -
Intergovernmental 131,503 - -
Charges for services 1,042,023 - -
Use of money and property 5,976,197 497,443 427,421
Fines and forfeitures 226,144 - -
Contributions 61,198 - -
Miscellaneous 1,477,716 3,859 3,778
Total revenues 33,638,863 501,302 3,994,136

EXPENDITURES
Current:

General government 9,957,467 - 2,884,381
Public safety 8,594,208 - -
Community development 528,600 - 648,734
Parks and recreation 3,072,011 - -
Public works 3,651,724 - 1,997,475
Housing activities - 415,926 -
Capital outlay 1,517,018 901,720 241,383
Debt service:

Principal 86,618 - 1,600
Interest and fiscal charges 4,468 - -
Total expenditures 27,412,114 1,317,646 5,773,573
Excess (deficiency) of revenues
over (under) expenditures 6,226,749 (816,344) (1,779,437)

OTHER FINANCING SOURCES (USES)
Transfers in 1,726,036 - -
Transfers out (3,027,250) - (627,719)
Lease financing 73,317 - 18,329
Subscription financing 158,484 - 4,659
Total other financing sources (uses) (1,069,413) - (604,731) Net change in fund balances 5,157,336 (816,344) (2,384,168) Fund balances-beginning 62,394,744 16,811,910 13,537,374 Fund balances (deficit)-ending $ 67,552,080 $ 15,995,566 $ 11,153,206

CITY OF IRWINDALE, CALIFORNIA
Statement of Revenues, Expenditures and Changes in Fund Balances Governmental Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 28

Capital Projects
Fund
Capital Projects
Fund
Total Total
Nonmajor Governmental
Funds Funds

REVENUES
Taxes $ - $ 1,005,898 $ 27,967,899
Licenses and permits - - 1,325,018
Intergovernmental 64,700 2,336,158 2,532,361
Charges for services - - 1,042,023
Use of money and property 124,943 759,320 7,785,324
Fines and forfeitures - - 226,144
Contributions - - 61,198
Miscellaneous - 2,102,626 3,587,979
Total revenues 189,643 6,204,002 44,527,946

EXPENDITURES
Current:

General government - 240,949 13,082,797
Public safety - 150,198 8,744,406
Community development - 21,759 1,199,093
Parks and recreation - 29,747 3,101,758
Public works - 569,999 6,219,198
Housing activities - - 415,926
Capital outlay 5,485,897 616,145 8,762,163
Debt service:

Principal - - 88,218
Interest and fiscal charges - - 4,468
Total expenditures 5,485,897 1,628,797 41,618,027
Excess (deficiency) of revenues
over (under) expenditures (5,296,254) 4,575,205 2,909,919

OTHER FINANCING SOURCES (USES)
Transfers in 5,345,058 8,826 7,079,920
Transfers out - (3,424,951) (7,079,920)
Lease financing - - 91,646
Subscription financing - - 163,143
Total other financing sources (uses) 5,345,058 (3,416,125) 254,789 Net change in fund balances 48,804 1,159,080 3,164,708
Fund balances-beginning 267,180 24,684,998 117,696,206
Fund balances (deficit)-ending $ 315,984 $ 25,844,078 $ 120,860,914

CITY OF IRWINDALE, CALIFORNIA
Statement of Revenues, Expenditures and Changes in Fund Balances (Continued) Governmental Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 29

Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities Amounts reported for governmental activities in the Statement of Activities are different because:

Net change in fund balances - total governmental funds: $ 3,164,708 Governmental funds report capital outlays are expenditures. However, in the Statement of Activities, the cost of these assets is allocated over their estimated useful lives and reported as depreciation/amortization expense.

This is the amount by which capital outlays exceeded depreciation/ amortization expense in the current period.

Capital outlay $ 8,762,163
Depreciation/amortization expense (2,609,823)
Total adjustment 6,152,340
Revenues reported as unavailable revenue in the governmental funds are recognized in the Statement of Activities. These are included in the operating contributions and grants revenues in the Statement of Activities.

Earned but unavailable grant revenues 23,606
Issuance of long-term debt (bonds and other debt) provide current financial resources to governmental funds, while the repayment of the principal on long-term debt consumes current financial resources of governmental funds.

Whereas repayment of principal reduces long-term liability and issuance of new long-term debt increases long-term liability on the Statement of Net Position.

Leases issued (91,646)
Subscriptions issued (163,143)
Principal payments 88,219
Total adjustment (166,570)
Compensated absences (36,461)
Changes in pension liabilities and related deferred outflows and inflows of resources (3,199,573)
Changes in OPEB liabilities and related deferred outflows and inflows of resources (610,316)
Total adjustment (3,846,350)
Change in net position of governmental activities $ 5,327,734

CITY OF IRWINDALE, CALIFORNIA
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 30

Fiduciary Fund Financial Statements
See accompanying Notes to the Basic Financial Statements 31

Statement of Fiduciary Net Position - Fiduciary Funds
Private
Purpose
Trust Funds
Custodial
Funds
ASSETS
Cash and investments $ 6,979,264 $ 521,050
Receivables:

Taxes - 385
Accrued interest 74,503 3,656
Restricted assets:

Cash and investments with fiscal agents 3,805,336 -
Total assets 10,859,103 525,091

DEFERRED OUTFLOWS OF RESOURCES
Deferred charge on refunding 37,945 -
Total deferred outflows of resources 37,945 -

LIABILITIES
Accounts payable 913 5,045
Accrued interest 248,809 -
Unearned revenues 190,786 -
Long-term liabilities:

Due in one year 8,885,000 -
Due in more than one year 3,858,341 -
Total liabilities 13,183,849 5,045

NET POSITION
Restricted for:

Restricted for individuals, organizations, and other governments (2,286,801) 520,046 Total net position $ (2,286,801) $ 520,046

CITY OF IRWINDALE, CALIFORNIA
Statement of Fiduciary Net Position
Fiduciary Funds
June 30, 2025
See accompanying Notes to the Basic Financial Statements 32

Statement of Changes in Fiduciary Net Position - Fiduciary Funds Private
Purpose
Trust Funds
Custodial
Funds

ADDITIONS
Taxes $ 6,935,764 $ 189,014
Interest and change in fair value of investments 434,566 13,359 Total additions 7,370,330 202,373

DEDUCTIONS
Administrative expenses 249,823 34,999
Contractual services 23,749 25,108
Utilities - 4,440
Interest expense 714,197 -
Total deductions 987,769 64,547
Net increase (decrease) in fiduciary net position 6,382,561 137,826 Net position-beginning (8,669,362) 382,220
Net position-ending $ (2,286,801) $ 520,046

CITY OF IRWINDALE, CALIFORNIA
Statement of Changes in Fiduciary Net Position
Fiduciary Funds
For the Year Ended June 30, 2025
See accompanying Notes to the Basic Financial Statements 33

Notes to The Basic Financial Statements
34

A. Description of the Reporting Entity
The City of Irwindale, the primary government, was incorporated on August 7, 1957, under the laws of the State of California and enjoys all the rights and privileges applicable to a Charter City. It is governed by an elected fivemember board. As required by accounting principles generally accepted in the United States of America, these financial statements present the City of Irwindale (the City) and its component units, entities for which the City is considered financially accountable.

The inclusion of an organization within the scope of the reporting entity of the City is based on the provisions of GASB Statement No. 14 (as amended by GASB Statements No. 39, 61 and 80). The blended component units discussed below, although legally separate entities, are in substance part of the government operation and so data from these component units has been combined herein. The following criteria were used in the determination of the blended component units:

1. The members of the City Council also act as the governing body of the Irwindale Public Financing Authority, the Irwindale Housing Authority, and the Irwindale Reclamation Authority.

2. The Public Financing Authority, the Housing Authority and the Reclamation Authority are managed by employees of the City. A portion of the City’s personnel costs is allocated to these component units each year.

3. The City, the Public Financing Authority, the Housing Authority and the Reclamation Authority are financially interdependent. They provide financial benefit/burden to the City.

Blended Component Units
The Irwindale Public Financing Authority was established on October 29, 1990, pursuant to the State of California Joint Exercise of Powers Act. Its purpose is to acquire, construct, modify and rehabilitate facilities; undertake a program of local agency bond pooled financing and lending; and make more efficient use of the common powers of the City and the former Irwindale Community Redevelopment Agency.

The Irwindale Housing Authority was established on August 27, 1987, by a joint exercise of powers agreement between the City and the former Community Redevelopment Agency. Under the bond law, the Authority has the power to issue bonds and loan the proceeds to any local agency.

The Irwindale Reclamation Authority was established on August 17, 2004, under a Joint Powers Agreement between the City and the former Irwindale Redevelopment Agency (Successor Agency). The Authority is organized to receive and reassign the operating rights from each of the mining companies under SMARA for certain quarries located in the City for the purpose of complying with the California Surface Mining and Reclamation Act of 1975 (SMARA) and implementing State Mining and Geology Board Reclamation Regulations (SMGB Regulations). On September 12, 2018, the City Council, Reclamation Authority Board, Successor Agency and the Industrial Development Authority approved the assignment of interest of the Successor Agency in the Irwindale Reclamation Authority to the Industrial Development Authority.

The Industrial Development Authority was established on November 30, 1982, pursuant to State law under Government Code sections 91500 et seq. Its purpose is to provide businesses with an alternative method of financing in acquiring, constructing, or rehabilitating facilities, including, but not limited to, equipment and furnishings. It further has the power to issue revenue bonds.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 35

The Irwindale Joint Powers Authority was established on April 24, 2013, pursuant to Article 1 of Chapter 5, Division 7, Title 1 of the Government Code of the State of California. Its purpose is to provide an entity which can provide assistance to the Irwindale Housing Authority and the City in their respective financing undertakings and to provide assistance in the financing of public capital improvements to be owned by either member. During the year under audit, there was no activity.

Separate financial statements have not been prepared for the Irwindale Public Financing Authority, the Irwindale Housing Authority, the Irwindale Reclamation Authority, the Industrial Development Authority and the Irwindale Joint Powers Authority.

The Irwindale Community Foundation (the Foundation) is a nonprofit Foundation whose purpose is to provide assistance to fund recreation, senior center, aquatics, library, and park improvement programs for the City. The Foundation is exempt from income taxes under Section 501 (c)(3) of the Internal Revenue Code (IRC) and applicable state statutes. Separate financial statements are available for the Foundation at City Hall located at 5050 North Irwindale Avenue, Irwindale, CA 91706, or at www.IrwindaleCA.gov.

B. Government-Wide and Fund Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report information on all of the nonfiduciary activities of the primary government and its component units.

Governmental activities are normally supported by taxes and intergovernmental revenues. The primary government is reported separately from certain legally separate component units for which the primary government is financially accountable.

The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers or applicants who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment, and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues.

Separate financial statements are provided for governmental funds and fiduciary funds, even though the latter are excluded from the government-wide financial statements. Major individual governmental funds are reported as separate columns in the fund financial statements.

C. Measurement Focus, Basis of Accounting and Financial Statement Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized when requirements are met.

Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period.

Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences and claims and judgments, are recorded only when payment is due.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 36

The City’s fiduciary funds consist of custodial funds and a private purpose trust fund. Custodial funds and private purpose trust funds are accounted for using the “economic resources” measurement focus and the accrual basis of accounting. Under the accrual basis of accounting, revenues are recognized in the period in which they are earned while expenses are recognized in the period in which the liability is incurred.

Property taxes, franchise taxes, licenses and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. Only the portion of special assessments receivable due within the current fiscal period is considered to be susceptible to accrual as revenue of the current period. All other revenue items are considered to be measurable and available only when cash is received by the government.

The City reports the following major governmental funds:
• The General Fund accounts for all unrestricted resources except those required to be accounted for in another fund.
• The Housing Authority Fund accounts for the transactions of the Irwindale Housing Authority which was established for the development of low and moderate income housing in the City. The fund reports restricted resources and assets transferred from the former Irwindale Community Redevelopment Agency Low and Moderate Income Housing Fund after the passage of AB 1X 26. • The Mining Impact Fund accounts for the excavation and processing taxes received from the various mining companies in the City.
• The Capital Projects Fund – This fund accounts for all of the City’s capital projects, encompassing all projects for new or improvements to City buildings, parks, streets, storm drains, and mining pits. Funding for these projects will be transferred from approved appropriations in the General Fund, Mining Impact Fund, special revenue funds, grants, or project contributions.

Additionally, the City reports the following fund types:
• Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted for specified purposes.
• Custodial Funds are used to account for funds held for the benefit of parties outside the government. The resources in these custodial funds are not used to support any City programs. Custodial funds for the City consists of the Street Light Assessment District and the Sewer Maintenance Assessment District Fund. • Private-purpose trust funds are used to account for the assets and liabilities of the former redevelopment agency and the allocated revenue to pay estimated installment payments of enforceable obligations until the obligations of the former redevelopment agency are paid in full and assets have been liquidated.

Amounts reported as program revenues include: 1) charges to customers or applicants for goods, services or privileges provided, 2) operating grants and contributions, and 3) capital grants and contributions, including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. Certain indirect costs are included in the program expense reported for individual functions and activities.

When both restricted and unrestricted resources are available for use, it is the government’s policy to use restricted resources first, then unrestricted resources as they are needed.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 37

D. Budgetary Information

1. Budgetary Basis of Accounting
The City Council approves each year's budget submitted by the City Manager prior to the beginning of the new fiscal year. Public meetings are conducted prior to its adoption by the Council. The budget is prepared by fund, function and activity, and includes information on the past year, current year estimates and requested appropriations for the next fiscal year. Supplemental appropriations, where required during the period, are also approved by the Council. The City Manager is authorized to transfer budgeted appropriations within the control accounts provided no change is made to the total amount for any one fund. Actual expenditures may not exceed budgeted appropriations at the fund level. At fiscal year-end all operating budget appropriations lapse. During the year, several supplementary appropriations were necessary.

Encumbrances
Encumbrances are estimations of costs related to unperformed contracts for goods and services. These commitments are recorded for budgetary control purposes in the General, Special Revenue and similar governmental funds.

Budget Basis of Accounting
Budgets for governmental funds are adopted on a basis consistent with generally accepted accounting principles (GAAP). Accordingly, actual revenues and expenditures can be compared with related budgeted amounts without any significant reconciling items.

The Irwindale Community Foundation Fund did not adopt a budget for the fiscal year ending June 30, 2025, and therefore a budgetary comparison schedule is not presented.

E. Assets, Deferred Outflows of Resources, Liabilities, Deferred Inflows of Resources and Net Position or Equity

1. Cash and Investments
Investments are reported at fair value, which is the quoted market price at June 30, 2025. The City's policy is generally to hold investments until maturity or until fair values equal or exceed cost. The State Treasurer's Investment Pool operates in accordance with appropriate state laws and regulations. The reported value of the pool is the same as the fair value of the pool shares.

2. Receivables and Payables
Activity between funds that are representative of lending/borrowing arrangements outstanding at the end of the fiscal year are referred to as either "due to/from other funds" (i.e., the current portion of interfund loans) or "advances to/from other funds" (i.e., the non-current portion of interfund loans). All other outstanding balances between funds are reported as "due to/from other funds." All trade and property tax receivables are shown net of an allowance for uncollectibles.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 38

Property tax revenue is recognized on the basis of NCGA Interpretation No. 3 (adopted by GASB); that is, in the fiscal year for which the taxes have been levied providing they become available. Available means then due, or past due and receivable within the current period and collected within the current period or expected to be collected soon enough thereafter (not to exceed 60 days) to be used to pay liabilities of the current period. The County of Los Angeles collects property taxes for the City. Tax liens attach annually as of 12:01 A.M. on the first day in January preceding the fiscal year for which the taxes are levied. The tax levy covers the fiscal period July 1 to June 30. All secured personal property taxes and one-half of the taxes on real property are due November 1; the second installment is due February 1. All taxes are delinquent, if unpaid, on December 10 and April 10, respectively. Unsecured personal property taxes become due on the first day of January each year and are delinquent on August 31.

3. Inventories, Prepaid Items and Land Held for Resale
Governmental funds use the purchases method to account for their inventories of materials and supplies. Under the purchase method, inventories are reported as expenditure when purchased rather than capitalized as an asset. Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items using the purchases method in both government-wide and fund financial statements.

Land purchased for resale is capitalized as inventory at acquisition costs or net realizable value if lower.

4. Capital Assets
Capital assets, which include property, plant, equipment, lease assets under GASB Statement 87, subscription assets under GASB Statement 96, infrastructure assets (e.g. roads, bridges, sidewalks and similar items) and intangible assets, are reported in the governmental activities’ column in the government-wide financial statements.

Capital assets other than infrastructure assets are defined by the government as assets with an initial, individual cost of more than $5,000 (amount not rounded) and an estimated useful life in excess of three years.

Infrastructure assets have a capitalization threshold of $100,000. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed. Donated capital assets, donated works of art and similar items and capital assets received in a service concession arrangement are recorded at acquisition value at the date of donation.

In accordance with GASB Statement No. 34, the City has reported its general infrastructure assets acquired after June 30, 1980, which include pavement, sidewalk, curb, gutter, streetlights, storm drains, bridges and traffic signals.

The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend assets lives are not capitalized.

Major outlays for capital assets and improvements are capitalized as projects are constructed.

Property, plant, and equipment of the primary government, as well as its component units, are depreciated using the straight-line method over the following estimated useful lives:

Assets Years
Infrastructure 25 - 100
Lease assets 3 - 10
Subscription assets 3 - 10
Buildings 50
Furniture, Fixtures and Equipment 3 - 10

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 39

5. Deferred Outflows/Inflows of Resources
Deferred outflows of resources represent a consumption of net assets that applies to a future periods and so will not be recognized as an outflow of resources (expenditure) until then. The City has two items that qualify for reporting in this category. It is the deferred amounts related to pension and OPEB. The deferred amounts related to pension and OPEB relate differences between estimated and actual investment earnings, changes in actuarial assumptions, and other pension and OPEB related changes.

In addition to liabilities, the statement of financial position includes a separate section for deferred inflows of resources. Deferred inflows of resources represent an acquisition of net assets that applies to a future periods and so will not be recognized as an inflow of resources (revenue) until that time. The City has three items that qualify for reporting in this category. Unavailable revenue is reported only in the governmental funds balance sheet. The governmental funds report unavailable revenues from two sources: property taxes and special assessments. These amounts are deferred and recognized as an inflow of resources in the period that the amounts become available. In the government-wide financial statements the City reports deferred amounts related to leases and deferred amounts related to pension and OPEB.

Net difference between projected
and actual earning on pension or
OPEB plan investments 5 years All plans
All other amounts are amortized
over the expected average
remaining service lifetime (EARSL)
of the respective plan. As of June
30, 2025, EARSL were:
0 years

3.8 years

3.8 years

4.7 years
OPEB plan
Pension Misc. – Cost Sharing Plan
Pension Safety – Cost Sharing Plan
Retirement Enhancement Plan

6. Net Position Flow Assumption
Sometimes the City will fund outlays for a particular purpose from both restricted (e.g., restricted bond or grant proceeds) and unrestricted resources. In order to calculate the amounts to report as restricted – net position and unrestricted – net position in the government-wide, a flow assumption must be made about the order in which the resources are considered to be applied. It is the City’s policy to consider restricted – net position to have been depleted before unrestricted – net position is applied.

7. Fund Balance Flow Assumptions
Sometimes the City will fund outlays for a particular purpose from both restricted and unrestricted resources (the total of committed, assigned, and unassigned fund balance). In order to calculate the amounts to report as restricted, committed, assigned, and unassigned fund balance in the governmental fund financial statements a flow assumption must be made about the order in which the resources are considered to be applied. It is the City’s policy to consider restricted fund balance to have been depleted before using any of the components of unrestricted fund balance. Further, when the components of unrestricted fund balance can be used for the same purpose, committed fund balance is depleted first, followed by assigned fund balance. Unassigned fund balance is applied last.

8. Subscription-Based Information Technology Arrangements The City is a subscriber for a noncancellable subscription of information technology services. The City recognizes a subscription liability and an intangible right-to-use subscription asset (subscription asset) in the governmentwide financial statements. The City recognizes subscription liabilities with an initial, individual value of $5,000 or more.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 40

At the commencement of a subscription, the City initially measures the subscription liability at the present value of payments expected to be made during the subscription term. Subsequently, the subscription liability is reduced by the principal portion of subscription payments made. The subscription asset is initially measured as the initial amount of the subscription liability, adjusted for subscription payments made at or before the subscription commencement date, plus certain initial direct costs. Subsequently, the subscription asset is amortized on a straight-line basis over its useful life. Key estimates and judgments related to subscriptions include how the City determines (1) the discount rate it uses to discount the expected subscription payments to present value, (2) lease term, and (3) subscription payments.
• The City uses the interest rate charged by the vendor as the discount rate. When the interest rate charged by the vendor is not provided, the City generally uses its estimated incremental borrowing rate as the discount rate for subscriptions.
• The subscription term includes the noncancellable period of the subscription. Subscription payments included in the measurement of the subscription liability are composed of fixed payments that the City is reasonably certain to exercise.

The City monitors changes in circumstances that would require a remeasurement of its subscriptions and will remeasure the subscription asset and liability if certain changes occur that are expected to significantly affect the amount of the subscription liability.

Subscription assets are reported with other capital assets and subscription liabilities are reported with long-term debt on the statement of net position.

9. Compensated Absences
Vacation pay is payable to employees at the time a vacation is taken or upon termination of employment, upon completion of six months of service. Sick leave is payable when an employee is unable to work because of illness. Upon termination, sick leave accrued will be paid based on the following:
• 75% reimbursement from one day up to 60 days;
• 50% reimbursement from 60 days up to 100 days; and
• 25% reimbursement for any amount of days over 100.

10. Claims and Judgments
Only the short-term liability, if any, is reflected as a current liability in the applicable governmental fund. The shortterm liability, which will be liquidated with expendable available financial resources, is the amount of settlement reached, but unpaid, related to claims and judgments entered. As of June 30, 2024, there were no material longterm claims and judgments against the City and no liability was reported.

11. Long-Term Obligations
In the government-wide financial statements, long-term debt and other long-term obligations are reported as liabilities in the governmental activities statement of net position. Bond premiums and discounts are amortized over the life of the bonds using the effective interest method. Bonds payable are reported net of the applicable bond premium or discount.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 41

In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issuance costs, during the current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt issuances are reported as other financing sources, while discounts on debt issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt proceeds received, are reported as debt service expenditures.

12. Pensions
For purposes of measuring the net pension liability, deferred outflows and inflows of resources related to pensions, and pension expense, information about the fiduciary net position and additions to/deductions from the fiduciary net position have been determined on the same basis as they are reported by the CalPERS Financial Office. For this purpose, benefit payments (including refunds of employee contributions) are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value. CalPERS audited financial statements are publicly available reports that can be obtained at CalPERS’ website under Forms and Publications.

Generally accepted accounting principles require that the reported results must pertain to liability and asset information within certain defined timeframes. For the pension plan administered under the California Public Employee’s Retirement System (CalPERS), the following timeframes are used:

Valuation Date June 30, 2023
Measurement Date June 30, 2024
Measurement Period July 1, 2023 to June 30, 2024
For the pension plan administered under the PARS Retirement Enhancement Plan (PARS), the following timeframes are used:

Valuation Date June 30, 2023
Measurement Date June 30, 2024
Measurement Period July 1, 2023 to June 30, 2024

13. Other Post-Employment Benefits (OPEB) Liability
For purposes of measuring the net OPEB liability, deferred outflows of resources and deferred inflows of resources related to OPEB, and OPEB expense, information about the fiduciary net position of the City’s plan (OPEB Plan), the assets of which are held by the California Employers’ Retiree Benefit Trust Program (CERBT), and additions to/deductions from the OPEB Plan’s fiduciary net position have been determined by an independent actuary. For this purpose, benefit payments are recognized when currently due and payable in accordance with the benefit terms. Investments are reported at fair value.

Generally accepted accounting principles require that the reported results must pertain to liability and asset information within certain defined timeframes.

For this report, the following timeframes are used:

Valuation Date June 30, 2023
Measurement Date June 30, 2024
Measurement Period July 1, 2023 to June 30, 2024

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 42

14. Fund Equity
In the fund financial statements, government funds report the following fund balance classification:

Non-spendable include amounts that cannot be spent because they are either (a) not in spendable form or (b) legally or contractually required to be maintained intact.

Restricted include amounts that are constrained on the use of resources by either (a) external creditors, grantors, contributors, or laws of regulations of other governments or (b) by law through constitutional provisions or enabling legislation.

Assigned include amounts that are constrained by the government’s intent to be used for specific purposes but are neither restricted nor committed. The City Manager is authorized to assign amounts to a specific purpose, which was established by the governing body in a resolution. City Council adopted Resolution 2011-33-2519 on June 22, 2011, to establish a general fund economic contingency reserve at a minimum of $5,000,000.

Unassigned include the residual amounts that have not been restricted, committed, or assigned to specific purposes.

The accounting policies of the City considers restricted fund balance to have been spent first when an expenditure is incurred for purposes for which both restricted and unrestricted fund balance is available. Similarly, when an expenditure is incurred for purposes for which amounts in any of the unrestricted classifications of fund balance could be used, the City considers committed amounts to be reduced first, followed by assigned amounts and then unassigned amounts. The General Fund is the only fund that has a positive unassigned balance.

15. Functional Classifications
Expenditures of the Governmental Funds are classified by function. Functional classifications are defined as follows:
• General Government includes legislative activities which have a primary objective of providing legal and policy guidelines for the City. Also included in this classification are those activities which provide management or support services across more than one functional area. • Public Safety includes those activities which involve the protection of people and property. • Public Works includes those activities which involve the maintenance and improvement of City streets, roads and park development and maintenance.
• Parks and Recreation includes those activities, which involve the parks and recreation system. • Housing includes those activities which involve the Housing Authority. • Capital Outlay includes those activities which involve the acquisition of capital assets. • Debt Service includes those activities that account for the payment of long-term debt principal, interest and fiscal charges.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 43

F. New GASB Pronouncements Effective during Fiscal Year The following Government Accounting Standards Board (GASB) pronouncement was effective for and implemented for the fiscal year ended June 30, 2025:

GASB Statement No. 101, Compensated Absences
The requirements of this Statement will improve financial reporting by implementing a unified recognition and measurement model that will result in a liability for compensated absences that more appropriately reflects when a government incurs an obligation. Establishing the unified model will result in consistent application to any type of compensated absence and will eliminate potential comparability issues between governments that offer different types of leave. This Statement will also result in a more robust estimate of the amount of compensated absences that a government will pay or settle, which will enhance the relevance and reliability of information about the liability for compensated absences.

GASB Statement No. 102, Certain Risk Disclosures
The requirements of this Statement will improve financial reporting by providing users of financial statements with essential information that currently is not often provided. The disclosures will provide users with timely information regarding certain concentrations or constraints and related events that have occurred or have begun to occur that make a government vulnerable to a substantial impact. As a result, users will have better information with which to understand and anticipate certain risks to a government’s financial condition.

Management has assessed the impact of this Statement on the City's financial statements and determined that it did not have a material impact.

G. New GASB Pronoucements Effective in Future Fiscal Years GASB Statement No. 103, Financial Reporting Model Improvements The requirements of this Statement will improve key components of the financial reporting model to enhance its effectiveness in providing information that is essential for decision making and assessing a government’s accountability.

The Statement requires that the information presented in MD&A be limited to the related topics discussed in five sections: (1) Overview of the Financial Statements, (2) Financial Summary, (3) Detailed Analyses, (4) Significant Capital Asset and Long-Term Financing Activity, and (5) Currently Known Facts, Decisions, or Conditions.

This Statement describes unusual or infrequent items as transactions and other events that are either unusual in nature or infrequent in occurrence. Furthermore, governments are required to display the inflows and outflows related to each unusual or infrequent item separately as the last presented flow(s) of resources prior to the net change in resource flows in the government-wide, governmental fund, and proprietary fund statements of resource flows.

This Statement also requires that the proprietary fund statement of revenues, expenses, and changes in fund net position continue to distinguish between operating and nonoperating revenues and expenses. Operating revenues and expenses are defined as revenues and expenses other than nonoperating revenues and expenses.

Nonoperating revenues and expenses are defined as (1) subsidies received and provided, (2) contributions to permanent and term endowments, (3) revenues and expenses related to financing, (4) resources from the disposal of capital assets and inventory, and (5) investment income and expenses. In addition to the subtotals currently required in a proprietary fund statement of revenues, expenses, and changes in fund net position, this Statement requires that a subtotal for operating income (loss) and noncapital subsidies be presented before reporting other nonoperating revenues and expenses.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 44

This Statement requires governments to present each major component unit separately in the reporting entity’s statement of net position and statement of activities if it does not reduce the readability of the statements. If the readability of those statements would be reduced, combining statements of major component units should be presented after the fund financial statements.

This Statement requires governments to present budgetary comparison information using a single method of communication—RSI. Governments also are required to present (1) variances between original and final budget amounts and (2) variances between final budget and actual amounts. An explanation of significant variances is required to be presented in notes to RSI.

The requirements of this Statement are effective for fiscal years beginning after June 15, 2025, and all reporting periods thereafter.

GASB Statement No. 104, Disclosure of Certain Capital Assets The requirements of this statement will provide users of government financial statements with essential information about certain types of capital assets. This Statement requires certain types of capital assets to be disclosed separately in the capital assets note disclosures required by Statement 34. Lease assets recognized in accordance with Statement No. 87, Leases, and intangible right-to-use assets recognized in accordance with Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements, should be disclosed separately by major class of underlying asset in the capital assets note disclosures. Subscription assets recognized in accordance with Statement No. 96, Subscription-Based Information Technology Arrangements, also should be separately disclosed. In addition, this Statement requires intangible assets other than those three types to be disclosed separately by major class.

This Statement also requires additional disclosures for capital assets held for sale. A capital asset is a capital asset held for sale if (a) the government has decided to pursue the sale of the capital asset and (b) it is probable that the sale will be finalized within one year of the financial statement date. This Statement requires that capital assets held for sale be evaluated each reporting period. Governments should disclose (1) the ending balance of capital assets held for sale, with separate disclosure for historical cost and accumulated depreciation by major class of asset, and (2) the carrying amount of debt for which the capital assets held for sale are pledged as collateral for each major class of asset.

The requirements of this Statement are effective for fiscal years beginning after June 15, 2025, and all reporting periods thereafter.

GASB 105
NOTE 2 - STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
A. Deficit Fund Equity
At June 30, 2025, The City reported deficit fund equities in the following funds:

Fund Name Fund Type Deficit Cause
Federal Grants Nonmajor Special Revenue Fund (38,100) (a) Successor Agency of the
Former Irwindale Community
Redevelopment Agency (ICRA) Private Purpose Trust Fund (2,286,801) (b) (a) Deficit due to timing differences between grant receipts and disbursements, and is expected to be eliminated through future grant revenues.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
504
NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 45

(b) Deficit due to the dissolution of the ICRA and is expected to be eliminated through future distributions from the Redevelopment Property Tax Trust Fund.

B. Violations of Legal or Contractual Provisions
The following Funds with a legally adopted budget had expenditures and transfers in excess of the final appropriation for the fiscal year ended June 30, 2025; expenditures and transfers together, shall not exceed appropriations at the Fund level, which is the legal level of control.

The Housing Authority Fund incurred $901,720 expenditures over appropriations at the Fund level. Additionally, the Irvine Community Foundation Fund did not adopt a budget for the fiscal year ended June 30, 2025.

NOTE 3 - CASH AND INVESTMENTS
As of June 30, 2025, cash and investments were reported in the accompanying financial statements as follows:

Governmental activities
Cash and investments $ 123,268,481
Restricted 22,592
Fiduciary funds
Cash and investments 7,500,314
Restricted 3,805,336
Total cash and investments $ 134,596,723
Cash on hand $ 4,220
Demand deposits 7,501,502
Investments 127,091,001
Total cash and investments $ 134,596,723
The City maintains a cash and investment pool that is available for use for all funds. Each fund type's position in the pool is reported on the combined balance sheet as cash and investments. The City has adopted an investment policy, which authorizes it to invest in various investments.

Deposits
As of June 30, 2025, the carrying amount of the City’s deposits was $7,501,502 and the bank balance was $7,009,968. The $491,534 difference represents outstanding checks and other reconciling items.

The California Government Code requires California banks and savings and loan associations to secure a City’s deposits by pledging government securities with a value of 110% of a City’s deposits. California law also allows financial institutions to secure City deposits by pledging first trust deed mortgage notes having a value of 150% of a City’s total deposits. The City Treasurer may waive the collateral requirement for deposits which are fully insured up to $250,000 by the FDIC. The collateral for deposits in federal and state chartered banks is held in safekeeping by an authorized Agent of Depository recognized by the State of California Department of Banking. The collateral for deposits with savings and loan associations is generally held in safekeeping by the Federal Home Loan Bank in San Francisco, California as an Agent of Depository. These securities are physically held in an undivided pool for all California public agency depositors. Under Government Code Section 53655, the placement of securities by a bank or savings and loan association with an "Agent of Depository" has the effect of perfecting the security interest in the name of the local governmental agency. Accordingly, all collateral held by California Agents of Depository are considered to be held for, and in the name of, the local governmental agency.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 2 - STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY (CONTINUED) 46

Investments
Under provision of the City’s investment policy, and in accordance with the California Government Code, the following investments are authorized:
• Bonds issued by the City
• United States Treasury Bills, Notes & Bonds
• Registered state warrants or treasury notes or bonds issued by the State of California • Bonds, notes, warrants or other evidence of debt issued by a local agency within the State of California, including pooled investment accounts sponsored by the State of California, County Treasurers, other local agencies or Joint Powers Agencies
• Obligations issued by Agencies or Instrumentality of the US Government • Bankers Acceptances
• Negotiable Certificates of Deposit which are fully insured by the Federal Deposit Insurance Corporation (FDIC)
• Repurchase/Reverse Repurchase Agreements
• Medium Term Notes
• Corporate Bonds which are fully insurance by the Federal Deposit Insurance Corporation (FDIC) • Money market mutual funds
• Funds held under the terms of a Trust Indenture or other contract or agreement • Collateralized bank deposits with a perfected security interest Investments Authorized by Debt Agreements
The above investments do not address investments of debt proceeds held by a bond trustee. Investments of debt proceeds held by a bond trustee are governed by provisions of the debt agreements, rather than the general provisions of the California Government Code or the City’s investment policy.

Investments in State Investment Pool
The City is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California Government Code Section 16429 under the oversight of the Treasurer of the State of California. LAIF is overseen by the Local Agency Investment Advisory Board, which consists of five members, in accordance with State statute. The State Treasurer’s Office audits the fund annually. The fair value of the City's investment in this pool is reported in the accompanying financial statements at amounts based upon the City's pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawals is based on the accounting records maintained by LAIF, which are recorded on an amortized cost basis. LAIF does not impose limits or restrictions on participant withdrawals, and the entire balance of the City’s investment in the portfolio is available for withdrawal at any time. LAIF is not registered with the Securities and Exchange Commission and is not rated. Deposits and withdrawals in LAIF are made on the basis of $1 and not fair value. Accordingly, the City’s investment in this pool is measured on uncategorized inputs not defined as Level 1, 2, or 3.

GASB Statement No. 31
The City adopted GASB Statement No. 31, Accounting and Financial Reporting for Certain Investments and for External Investment Pools, as of July 1, 1997. GASB Statement No. 31 establishes fair value standards for investments in participating interest earning investment contracts, external investment pools, equity securities, option contracts, stock warrants and stock rights that have readily determinable fair values. Accordingly, the City reports its investments at fair value in the balance sheet. All investment income, including changes in the fair value of investments, is recognized as revenue in the operating statement.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 3 - CASH AND INVESTMENTS (CONTINUED)
47

Credit Risk
Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. The City's investment policy limits investments in medium-term notes (MTN’s) to those rated "AA" or higher by Standard and Poor's (S&P) or by Moody's. As of June 30, 2025, the City’s investments in Federal Agency investments were rated "AAA" by Moody’s and S&P. All securities were investment grade and legal under State law. Investments in U.S. treasuries are not considered to have credit risk and, therefore, their credit quality is not disclosed. As of June 30, 2025, the City's investments in external investment pools and money market mutual funds are unrated.

Custodial Credit Risk
The custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a government will not be able to recover deposits or will not be able to recover collateral securities that are in the possession of an outside party. The custodial credit risk for investments is the risk that, in the event of the failure of the counterparty to a transaction, a government will not be able to recover the value of investment or collateral securities that are in the possession of an outside party.

As of June 30, 2025, none of the City’s deposits or investments was exposed to custodial credit risk.

Concentration of Credit Risk
The City’s investment policy imposes restrictions for certain types of investments with any one issuer for the following types of investments: Medium Term Notes (30%), Medium Term of any one corporation (15%), Banker’s Acceptances (20%), and Bank’s acceptance of any one commercial bank (10%). With respect to concentration of credit risk, as of June 30, 2025, the City is in compliance with its investment policy.

In accordance with GASB Statement No. 40 a separate disclosure is needed if the City has invested more than 5% of its total investments in any one issuer. As of June 30, 2025, the City had 22.1% and 10.2% of its cash and investments invested in Federal Home Loan Bank and Federal Farm Credit Bank respectively. Investments guaranteed by the U.S. government, investments in mutual funds and external investment pools are excluded from this requirement.

Interest Rate Risk
The City's investment policy limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates. The City's investment policy states that at least two-thirds of the City's portfolio shall mature in three years or less. The only exception to these maturity limits shall be the investment of the gross proceeds of tax-exempt bonds. The City has elected to use the segmented time distribution method of disclosure for its interest rate risk.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 3 - CASH AND INVESTMENTS (CONTINUED)
48

As of June 30, 2025, the City had the following investments and original maturities:

Investment Maturities
Less 6 Months 1 to 3 3 to 5 Fair
6 Months to 1 Year Years Years Value
Investments:

Local Agency Investment
Fund (LAIF) $ 32,535,745 $ - $ - $ - $ 32,535,745
Federal Farm Credit Bank 1,000,359 8,724,905 - - 9,725,264 Federal Home Loan Bank - 14,562,536 4,973,849 6,480,726 26,017,111 Federal Home Loan Mortgage Corp. - - - 2,109,066 2,109,066 Certificates of Deposit 2,929,659 243,555 2,212,232 11,160,560 16,546,006 Corporate Bonds 4,921,473 - 6,006,663 982,803 11,910,939 Money Market Fund 6,538,646 - - - 6,538,646
Municpal Bonds 15,906,816 - 953,036 - 16,859,852
Supranationals - - - 1,020,444 1,020,444
Restricted Cash and Investments:

CJPIA TPA Trust 22,592 - - - 22,592
Investments with fiscal agents:

Money Market Mutual Fund 3,805,336 - - - 3,805,336
$ 67,660,626 $ 23,530,996 $ 14,145,780 $ 21,753,599 $ 127,091,001 Fair Value Measurement and Application
The City categorizes its fair value measurements within the fair value hierarchy established by generally accepted accounting principles. The hierarchy is based on the valuation inputs used to measure the fair value of the asset.

Level 1 inputs are quoted prices in active markets for identical assets; Level 2 inputs are quoted prices for similar assets in active markets; and Level 3 inputs are significant unobservable inputs. Methods utilized by the City to determine fair value include matrix pricing, market corroborated pricing, and other inputs such as yield curves and indices The City has the following recurring fair value measurements as of June 30, 2025:

Investments not
Measured at Level
Investment Type Totals Fair Value 2 Uncategorized
Federal Farm Credit Bank $ 9,725,264 $ - $ 9,725,264 $ - Federal Home Loan Bank 26,017,111 - 26,017,111 -
Federal Home Loan Mortgage Corp. 2,109,066 - 2,109,066
Certificates of Deposit 16,546,006 - 16,546,006
Medium-Term Corporate Notes 11,910,939 - 11,910,939 -
Municipal Bonds 16,859,852 - 16,859,852 -
Supranationals 1,020,444 - 1,020,444 -
Money Market Funds 6,538,646 6,538,646 - -
Local Agency Investment Fund (LAIF) 32,535,745 - - 32,535,745 CJPIA TPA Trust 22,592 22,592 - -
Investments with Fiscal Agent:

Money Market Funds 3,805,336 - - 3,805,336
Total Investments $ 127,091,001 $ 6,561,238 $ 84,188,682 $ 36,341,081

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 3 - CASH AND INVESTMENTS (CONTINUED)
49

A. Leases Receivable
As of June 30, 2025, the City had three active leases. The leases have receipts that range from $19,657 to $348,023 and interest rates that range from 1.0112% to 2.7002%. As of June 30, 2025, the total combined value of the lease receivable is $7,707,300, the total combined value of the short-term lease receivable is $205,275, and the combined value of the deferred inflow of resources is $7,113,569.

Governmental Activities
Fiscal Year
Ending
June 30, Principal Interest
2026 $ 205,275 $ 199,781
2027 198,316 194,984
2028 207,984 190,050
2029 219,686 184,830
2030 231,799 179,312
2031 - 2035 1,352,376 802,610
2036 - 2040 1,492,801 619,385
2041 - 2045 1,882,741 392,683
2046 - 2050 1,916,322 113,116
Totals $ 7,707,300 $ 2,876,751
B. Subscription-Based Information Technology Arrangements As of June 30, 2025, City had twelve active subscriptions. The subscriptions have payments that range from $0 to $31,000 and interest rates that range from 2.1860% to 3.4510%. As of June 30, 2025, the total combined value of the subscription liability is $221,460, and the total combined value of the short-term subscription liability is $67,303. The combined value of the right to use asset, as of June 30, 2025 of $385,203 with accumulated amortization of $114,491.

Governmental Activities
Amount of
SBITA Capital Accumulated
Subscription Type Assets Amortization
Software as a service $ 385,203 $ 114,491

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 4 - LEASES AND SUBSCRIPTION-BASED TECHNOLOGY ARRANGEMENTS 50

The future principal and interest subscription payments as of June 30, 2025, were as follows:

Governmental Activities
Fiscal Year
Ending
June 30, Principal Interest
2026 $ 67,303 $ 6,662
2027 69,938 4,636
2028 53,183 2,528
2029 31,036 895
Totals $ 221,460 $ 14,721
NOTE 5 - INTERFUND RECEIVABLE, PAYABLE, AND TRANSFER
The composition of interfund balances as of June 30, 2025, is as follows:

A. Due To/From Other Funds
Due From Other
Funds
Due to Other Funds General Fund
Nonmajor governmental funds $ 28,025
B. Interfund Transfers
Transfers Out
Transfers In General Fund
Mining Impact
Fund
Nonmajor
Governmental
Funds Total
General Fund $ - $ - $ 1,726,036 $ 1,726,036
Capital Projects 3,027,250 618,893 1,698,915 5,345,058
Nonmajor Governmental Funds - 8,826 - 8,826
Total $ 3,027,250 $ 627,719 $ 3,424,951 $ 7,079,920
The Mining Impact Fund transferred $8,826 to the Reclamation Nonmajor Governmental Fund for reclamation authority meetings and $618,893 to the Capital Projects Fund to fund various capital projects. The General Fund transferred $3,027,250 to the Capital Projects Fund to fund various capital projects. The $1,698,915 transferred from Nonmajor Governmental Funds to the Capital Projects Fund was to fund future capital projects. The Reclamation Nonmajor Governmental Fund transferred royalty receipts in the amount of $1,726,036 to the General Fund as the Reclamation Fund was created for tracking such royalty receipts.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 4 - LEASES AND SUBSCRIPTION-BASED TECHNOLOGY ARRANGEMENTS (CONTINUED) 51

Capital assets activity for the year ended June 30, 2025, was as follows:

Capital assets, not being depreciated/amortized:

Land $ 3,112,220 $ - $ - $ - $ 3,112,220
Construction-in-progress 11,969,702 5,485,894 - (3,682,894) 13,772,702 Total Capital Assets,
Not Being Depreciated/Amortized 15,081,922 5,485,894 - (3,682,894) 16,884,922 Capital assets, being depreciated/amortized:

Buildings and improvements 16,470,936 1,503,017 - 3,339,596 21,313,549 Furniture, fixtures and equipment 6,971,237 1,491,865 (139,256) - 8,323,846 Lease asset:

Buildings - 91,646 - - 91,646
Subscription asset:

Software as a service 214,580 189,741 (19,118) - 385,203 Infrastructure 68,282,819 - - 343,298 68,626,117
Total Capital Assets,
Being Depreciated/Amortized 91,939,572 3,276,269 (158,374) 3,682,894 98,740,361 Less accumulated depreciation/amortization:

Buildings and improvements 10,117,562 755,380 - - 10,872,942 Furniture, fixtures and equipment 5,496,401 519,876 (139,256) - 5,877,021 Lease asset:

Buildings - 16,140 - - 16,140
Subscription asset:

Software as a service 61,807 71,802 (19,118) - 114,491
Infrastructure 34,199,263 1,246,625 - - 35,445,888
Total Accumulated
Depreciation/Amortization 49,875,033 2,609,823 (158,374) - 52,326,482 Total Capital Assets,
Being Depreciated/Amortized, Net 42,064,539 666,446 - 3,682,894 46,413,879 Governmental Activities
Capital Assets, Net $ 57,146,461 $ 6,152,340 $ - $ - $ 63,298,801 Beginning Ending
Balance Additions Deletions Transfers Balance
Depreciation/amortization expense was charged to functions/programs of the primary government as follows:

Governmental Activities:

General government $ 404,519
Public safety 189,420
Parks and recreation 638,227
Public works 125,111
Housing Authority - Fund 12 1,252,546
Total Depreciation/Amortization Expense $ 2,609,823

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 6 - CAPITAL ASSETS
52

The following is a schedule of changes in governmental activities long-term debt for fiscal year ended June 30, 2025.

Outstanding Outstanding Due Within
July 1, 2024 Additions Deletions June 30, 2025 One Year Lease liability $ - $ 91,646 $ 15,030 $ 76,616 $ 18,143 Subscription liability 131,506 163,143 73,189 221,460 67,303 Total long-term liabilities $ 131,506 $ 254,789 $ 88,219 $ 298,076 $ 85,446 NOTE 8 - COMPENSATED ABSENCES
The City’s policies relating to compensated absences are described in Note 1 of the Notes to the Financial Statements. The liability will be paid in future years by the General Fund. The following is a schedule of changes in compensated absences for the fiscal year ended June 30, 2025.

Outstanding
July 1, 2024, as
restated Net change*
Outstanding
June 30, 2025
Due Within One
Year
Governmental Activities $ 2,124,127 $ 36,461 $ 2,160,588 $ 942,467 *Compensated absences is presented as a net change in accordance with the requirements of GASB 101, Compensated Absences.

NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS Deferred Deferred
Net Pension Outflows Inflows Pension
Liability of Resources of Resources Expense
CalPERS:

Miscellaneous Plan $ (4,147,770) $ 3,649,265 $ (1,908,691) $ 2,668,662 Safety Plan (5,477,431) 3,285,600 (1,512,868) 2,547,605 PARS (2,409,789) 534,764 (292,095) (261,158)
Total pension plans $ (12,034,990) $ 7,469,629 $ (3,713,654) $ 4,955,109

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 7 - LONG-TERM LIABILITIES
53

A. California Public Employees’ Retirement Plan (CalPERS) General Information about the Pension Plans
Plan Descriptions
All qualified permanent and probationary employees are eligible to participate in the Public Agency Cost-Sharing Multiple-Employer Defined Benefit Pension Plan (Plan) administered by the California Public Employees’ Retirement System (CalPERS). The Plan consists of individual rate plans (benefits tiers) within a safety risk pool (police and fire) and a miscellaneous risk pool (all other). Plan assets may be used to pay benefits for any employer rate plan of safety and miscellaneous pools. Accordingly, rate plans within the safety or miscellaneous pools are not separate plans under GASB Statement No. 68. Individual employers may sponsor more than one rate plan in the miscellaneous or safety risk pools. The City sponsors six rate plans (three miscellaneous and three safety). Benefit provisions under the Plan are established by State statue and City resolution. CalPERS issues publicly available reports that include a full description of the pension plan regarding benefit provisions, assumptions and membership information that can be found on the CalPERS website.

Benefits Provided
CalPERS provides service retirement and disability benefits, annual cost-of-living adjustments, and death benefits to plan members, who must be public employees and beneficiaries. Benefits are based on years of credited service, equal to one year of full-time employment. Members with five years of total service are eligible to retire at age 50 with statutorily reduced benefits. All members are eligible for non-duty disability benefits after 10 years of service. The death benefit is one of the following: The Basic Death Benefit, the 1957 Survivor Benefit, or the Optional Settlement 2W Death Benefit. The cost of living adjustments for each plan are applied as specified by the Public Employees’ Retirement Law.

Below is a summary of the plan provisions and benefits in effect at June 30, 2025, for which the City has contracted:

Major Benefit Options Miscellaneous * Miscellaneous Tier II * Miscellaneous
PEPRA Safety * Safety Tier II * Safety PEPRA
Hire Date Prior to After January 1, 2011 On or after Prior to After January 1, 2011 On or after Jan 1, 2011
and before January 1,
2013 Jan 1, 2013 Jan 1, 2011
and before January
1, 2013 Jan 1, 2013
Benefit Provision
Benefit Formula 2.0% @ 55 2.0% @ 55 2.0% @ 62 3.0% @ 50 3.0% @ 50 2.7% @ 57 Social Security no no no no no no
Full/Modified full full full full full full
Benefit vesting schedule 5 yrs service 5 yrs service 5 yrs service 5 yrs service 5 yrs service 5 yrs service Benefit payments monthly for life monthly for life monthly for life monthly for life monthly for life monthly for life Retirement age minimum 50 minimum 50 minimum 50 minimum 50 minimum 50 minimum 50 Monthly benefits, as a % of
eligible compensation 1.426% to 2.418% 1.426% to 2.418% 1.0% to 2.5 3.000% 3.000% 1.426% to 2.0% Required employer contribution rates 13.360% 12.670% 8.180% 29.300% 27.840% 14.720% Required employee contribution rates 6.930% 6.930% 8.250% 8.990% 8.990% 14.500% * Closed to new entrants

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS (CONTINUED) 54

Contribution Description
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on the July 1 following notice of a change in the rate. Funding contributions for both Plans are determined annually on an actuarial basis as of June 30 by CalPERS. The Plan’s actuarially determined rate is based on the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The City is required to contribute the difference between the actuarially determined rate and the contribution rate of employees.

For the year ended June 30, 2025, the contributions that were recognized as a reduction to the net pension liability were $791,478 and $963,649 for the Miscellaneous Plan and Safety Plan, respectively.

Pension Liabilities, Pension Expenses and Deferred Outflows/Inflows of Resources Related to Pensions As of June 30, 2025, the City reported net pension liability of $4,147,770 and $5,477,431 for the Miscellaneous Plan and Safety Plan, respectively, for its proportionate share of the cost sharing plan.

The City’s net pension liability for the Plan is measured as its proportionate share of the net pension liability of the Plan. The net pension liability of the Plan is measured as of June 30, 2024, and the total pension liability for the Plan used to calculate the net pension liability was determined by an actuarial valuation as of June 30, 2024, rolled forward to June 30, 2025, using standard update procedures. The City’s proportion of the net pension liability was based on a projection of the City’s long-term share of contributions to the pension plan relative to the projected contributions of all participating employers, actuarially determined. The City’s proportionate share of the net pension liability for each Plan as of June 30, 2023 and 2024, was as follows:

Miscellaneous Safety
Proportion - June 30, 2023 0.03502 % 0.05293 %
Proportion - June 30, 2024 0.03420 % 0.05234 %
Change - Increase (Decrease) (0.00081) % (0.00059) %
For the year ended June 30, 2025, the City recognized pension expense of $2,668,250 and $2,547,605 for the Miscellaneous and Safety Plans, respectively.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS (CONTINUED) 55

At June 30, 2025, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources:

Miscellaneous Safety Total
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Pension contributions subsequent to
measurement date $ 791,478 $ - $ 963,649 $ - $ 1,755,127 $ - Changes in assumptions 106,606 - 134,953 - 241,559 -
Differences between expected and actual
experiences 358,613 (13,993) 447,004 (14,534) 805,617 (28,527) Net differences between projected and actual
earnings on pension plan investments 238,782 - 264,754 - 503,536 - Differences in proportionate share of
contribution - (1,894,698) - (1,498,334) - (3,393,032)
Adjustment due to differences in proportions 2,153,786 - 1,475,240 - 3,629,026 - Total $ 3,649,265 $ (1,908,691) $ 3,285,600 $ (1,512,868) $ 6,934,865 $ (3,421,559) Amounts of $791,478 and $963,649 reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net pension liability in the year ended June 30, 2026.

Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized as pension expense as follows:

Measurement Miscellaneous Safety Total
Period Ended Deferred Outflows/ Deferred Outflows/ Deferred Outflows/ June 30 (Inflows) of Resources (Inflows) of Resources (Inflows) of Resources 2025 $ 898,410 $ 589,276 $ 1,487,686
2026 233,872 393,828 627,700
2027 (101,358) (83,434) (184,792)
2028 (81,828) (90,587) (172,415)
$ 949,096 $ 809,083 $ 1,758,179

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS (CONTINUED) 56

Actuarial Methods and Assumptions Used to Determine Total Pension Liability The June 30, 2023, valuation was rolled forward to determine the June 30, 2024 total pension liability, based on the following actuarial methods and assumptions:

Valuation Date June 30, 2023
Measurement Date June 30, 2024
Actuarial Cost Method Entry Age Normal Cost Method
Actuarial Assumptions
Discount Rate 6.90%
Inflation 2.30%
Projected Salary Increases Varies by Entry Age and Service Mortality Rate Table (1) Derived using CalPERS’ Membership Data for all Funds
Post Retirement Benefit Increase Contract COLA up to 2.30% until Purchasing Power Protection Allowance
Floor on Purchasing Power applies
(1) The mortality table was developed based on CalPERS-specific data. The rates incorporate Generational Mortality to capture ongoing mortality improvement using 80% of Scale MP 2020 published by the Society of Actuaries. For more details, please refer to the 2021 experience study report that can be found on the CalPERS website.

Discount Rate
The discount rate used to measure the total pension liability was 6.90%. The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current member contribution rates and that contributions from employers will be made at statutorily required rates, actuarially determined. Based on those assumptions, the Plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current plan members. Therefore, the long-term expected rate of return on plan investments was applied to all periods of projected benefit payments to determine the total pension liability.

Long-term Expected Rate of Return
The long-term expected rate of return on pension plan investments was determined using a building-block method in which best-estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.

In determining the long-term expected rate of return, CalPERS took into account both short-term and long-term market return expectations as well as the expected pension fund cash flows. Using historical returns of all of the funds’ asset classes, expected compound (geometric) returns were calculated over the short-term (first 10 years) and the long-term (11+ years) using a building-block approach. Using the expected nominal returns for both short-term and long-term, the present value of benefits was calculated for each fund. The expected rate of return was set by calculating the rounded single equivalent expected return that arrived at the same present value of benefits for cash flows as the one calculated using both short-term and long-term returns. The expected rate of return was then set equal to the single equivalent rate calculated above and adjusted to account for assumed administrative expenses.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS (CONTINUED) 57

The expected real rates of return by asset class are as followed:

Assumed
Asset Real Return
Asset Class Allocation Years 1-10 1, 2
Global equity-cap-weighted 30.00 % 4.54 %
Global equity-non-cap-weighted 12.00 % 3.84 %
Private equity 13.00 % 7.28 %
Treasury 5.00 % 0.27 %
Mortgage-backed securities 5.00 % 0.50 %
Investment grade corporates 10.00 % 1.56 %
High yield 5.00 % 2.27 %
Emerging market debt 5.00 % 2.48 %
Private debt 5.00 % 3.57 %
Real assets 15.00 % 3.21 %
Leverage (5.00) % (0.59) %
1 An expected inflation of 2.30% used for this period.
2 Figures are based on the 2021 Asset Liability Management study Sensitivity of the Net Pension Liability/(Asset) to Changes in the Discount Rate The following presents the City’s proportionate share of the net pension liability/(asset) of the Plan, calculated using the discount rate for the Plan, as well as what the City’s proportionate share of the net pension liability/ (asset) would be if it were calculated using a discount rate that is 1% point lower (5.90 percent) or 1% point higher (7.90 percent) than the current rate:

Plan's Net Pension Discount Rate - 1% Current Discount Rate Discount Rate +1% Liability/(Assets) (5.9)% (6.9)% (7.9)%
Miscellaneous $ 11,856,210 $ (4,147,770) $ (2,197,411)
Safety 13,177,348 (5,477,431) (820,019)
Total $ 25,033,558 $ (9,625,201) $ (3,017,430)
Pension Plan Fiduciary Net Position
Detailed information about each pension plan’s fiduciary net position is available in the separately issued CalPERS financial reports. See CalPERS website for additional information.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS (CONTINUED) 58

B. Retirement Enhancement Plan - PARS - Public Agency Retirement System Plan Descriptions
The City established the PARS Retirement Enhancement Plan (PARS) for its miscellaneous employees to supplement PERS retirement benefits. PARS is a 401(a) tax-qualified agent multiple-employer benefit plan made up of California governmental agencies. To be eligible for benefits under this plan, employees must be a full-time or part-time employee, be at least 50 years of age, have completed at least three years of continuous employment with the City as of the last day of employment with the City if hired prior to January 1, 2007, or 10 years of continuous employment if hired on or after January 1, 2007. Employees must terminate employment with the City; concurrently retire under PERS; and have applied for benefits under this plan. PARS supplements the current 2% at 55 PERS benefits to provide a combined total retirement benefit equivalent to a 3% at 55 PERS benefits based on the total credited PERS years of service.

Contribution Description
Section 20814(c) of the California Public Employees’ Retirement Law (PERL) requires that the employer contribution rates for all public employers be determined on an annual basis by the actuary and shall be effective on July 1 following notice of a change in the rate. The total plan contributions are determined by an independent pension actuary using information furnished by the City and by PARS. The actuarially determined rate is the estimated amount necessary to finance the costs of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. The employer is required to contribute the difference between the actuarially determined rate and the contribution rate of employees. For the measurement period ended June 30, 2025, (the measurement date), the employer’s contribution rate is 26.55% percent of annual payroll, and no contributions were made by the employees. Employer contribution rates may change if plan contracts are amended. It is the responsibility of the employer to make necessary accounting adjustments to reflect the impact due to any Employer Paid Member Contributions or situations where members are paying a portion of the employer contribution.

Employees Covered
As of the June 30, 2024 measurement date, the following employees were covered by the benefit terms under the plan:

Active 27
Terminated vested and other inactives 4
Retirees and beneficiaries 35
Total 66

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS (CONTINUED) 59

Actuarial Methods and Assumptions Used to Determine Total Pension Liability For the measurement period ended June 30, 2025 (the measurement date), the total pension liability was determined by rolling forward the June 30, 2024 actuarial valuation. The fiscal year June 30, 2024 and the June 30, 2025 total pension liabilities were based on the following actuarial methods and assumptions:

Actuarial Cost Method Entry Age Normal
Actuarial Assumptions
Discount Rate 6.75%
Inflation 2.30%
Salary Increases Consistent with the rates used to value the Miscellaneous Agency CalPERS Pension
Plans (Entry Age 30)
Investment Rate of Return 6.75%
Cost of Living Adjustments 2.00%
Mortality CalPERS Miscellaneous Non-Industrial
Rates
Maximum Benefits and Salary Salary limits under ICR 401(a)(17) Beneficiaries 80% of active employees are assumed to
be married with with males to be three
years older than female partners.

Discount Rate
The plan’s fiduciary net position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the discount rate for calculating the total pension liability is equal to the long-term expected rate of return.

The table on the next page reflects long-term expected real rate of return by asset class. The projection is of the 30-year average return derived by adding expected inflation to expected long-term real returns and reflecting expected volatility and correlation on the plan’s current asset allocation. The capital market assumptions are per actuarial investment consulting practice as of June 30, 2025.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS (CONTINUED) 60

Asset Class Index
Target
Allocation
Long-Term
Expected
Arithmetic Real
Rate of Return
Long-Term
Expected
Geometric Real
Rate of Return
US Cash BAML 3-Mon Tbill 3.45% 0.83% 0.80%
US Corporate Bonds Bloomberg Barclays
Aggregate

34.48% 2.91% 2.65%
US High Yield Bonds Bloomberg US Govt/Credit 1-3
Yr

2.96% 4.03% 3.48%
US Large Cap Equity ICE BofA US High Yield 33.69% 5.39% 3.78% US Small Cap Equity Russell 100 1.77% 6.80% 4.22%
Foreign Developed Equity Russell Mid Cap 13.30% 6.61% 4.79% Emerging Market Equities Russell 2000 4.43% 8.78% 5.73% US REITs MSCI EAFE NR 2.96% 6.71% 4.46%
Infrastructure - Public MSCI EM NR USD 2.96% 5.68% 4.18% Assumed Inflation - Mean 2.28% 2.28%
Assumed Inflation - Standard Deviation 1.45% 1.47%
Portfolio Real Mean Return 4.72% 3.99%
Portfolio Nominal Mean Return 7.00% 6.39%
Portfolio Standard Deviation 11.74%
Long-Term Expected Rate of Return 6.75%
A blended discount rate is generally required to be used to measure the Total Pension Liability (the Actuarial Accrued Liability calculated using the Individual Entry Age Normal Cost Method). The long-term expected return on plan investments may be used to discount liabilities to the extent that the plan’s Fiduciary Net Position (fair value of assets) is projected to cover benefit payments and administrative expenses. A 20-year high quality (AA/ Aa or higher) municipal bond rate must be used for periods where the Fiduciary Net Position is not projected to cover benefit payments and administrative expenses. Determining the discount rate will often require that the actuary perform complex projects of future benefit payments and asset values. Alternative evaluations of projected solvency are allowed if such evaluation can reliability be made.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS (CONTINUED) 61

Pension Plan Fiduciary Net Position
The following table shows the changes in net pension liability recognized over the measurement period:

Increase (Decrease)
Total Pension Plan Fiduciary Net Pension
Liability Net Position Liability/(Asset)
(a) (b) (c) = (a) - (b)
Balance at June 30, 2024 $ 13,230,602 $ 10,457,093 $ 2,773,509 Changes recognized for the
measurement period:

Service Cost 156,192 - 156,192
Interest on Total Pension Liability 888,545 - 888,545
Effect of Plan Changes
Effect of Economic/Demographic Gains or Losses 314,977 - 314,977 Effect of Assumptions Changes or Inputs 140,561 - 140,561 Benefit Payments (739,535) (739,535) -
Employer Contributions - 775,306 (775,306)
Member Contributions - 59,419 (59,419)
Net Investment Income - 1,047,954 (1,047,954)
Administrative Expenses - (18,684) 18,684
Net changes during 2024-25 760,740 1,124,460 (363,720)
Balance at June 30, 2025 $ 13,991,342 $ 11,581,553 $ 2,409,789 The net pension liabilities for the City’s pension plan have been liquidated by funding from the General Fund, Mining Impact Fund, and the AB939 Fund.

Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the City calculated using the discount rate of 6.75%, as well as what the Plan’s net pension liability would be if it were calculated using a discount rate that is 1 percentage point lower (5.75%) or 1 percentage point higher (7.75%) than the current rate:

Discount Rate Current Discount Rate
-1% Discount Rate +1%
(5.75%) (6.75%) (7.75%)
Total Pension Liability $ 15,742,937 $ 13,991,342 $ 12,529,087 Fiduciary Net Position 11,581,553 11,581,553 11,581,553 Net Pension Liability $ 4,161,384 $ 2,409,789 $ 947,534 As of the start of the measurement period, July 1, 2024, the net pension liability was $2,773,509. For the measurement period ending June 30, 2025, the City recorded pension revenue of $(261,158) for the Plan. As of the measurement date of June 30, 2025, the net pension liability is $2,409,789.

Note that no adjustments have been made for contributions subsequent to the measurement date. Adequate treatment of any contributions made after the measurement date is the responsibility of the employer.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS (CONTINUED) 62

As of June 30, 2025, the City has deferred outflows and deferred inflows of resources related to pensions as follows:

Deferred Deferred
Outflows of Inflows of
Resources Resources
Differences between expected and actual experience $ 433,248 $ - Changes of assumptions 101,516 (39,123)
Net difference between projected and actual earnings - (252,972) Total $ 534,764 $ (292,095)
Amounts reported as deferred outflows of resources related to pensions will be recognized in future pension expense as follows:

Measurement Period
Ended June 30,
Deferred
Outflows
(Inflows) of
Resources
2026 $ 427,433
2027 (17,338)
2028 (99,514)
2029 (67,912)
$ 242,669

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 9 - CITY EMPLOYEES RETIREMENT PLAN - PENSION PLANS (CONTINUED) 63

Plan Description
The City has established a qualified OPEB trust with the California Employers’ Retiree Benefit Trust Fund (CERBT), an agent multiple-employer plan, to fund future benefits. The City provides medical insurance for its retired employees according to the Personnel Rules and Regulations. The authority to do so is included in the Memorandum of Understanding between the City and each of its employee groups and ultimately passed by Council action.

For employees hired before July 1, 2010, the plan provides lifetime benefits towards medical insurance for all employees who retire from the City on or after attaining the age of 50 with at least five years of service. For employees hired after July 1, 2010, retiree medical benefits will be implemented in accordance with the vesting resolution with CalPERS which mirrors the state plan for contribution levels, requiring 10 years of service for 50% contribution of state designated amount towards retiree medical premiums and 20 years of service for 100% contribution of state designated amount towards retiree medical premiums.

Contributions
The contribution requirements of plan members and the City are established and may be amended by the City, City Council and/or the employee association. Currently, contributions are not required from plan members. The City pays current benefits on a pay- as-you-go basis and makes additional contribution to the California Employers’ Retiree Benefit Trust Fund (CERBT) to fund future benefits. For the measurement date ended June 30, 2024, the City’s cash contributions were $903,752 in total payments, which were recognized as a reduction to the OPEB liability.

Employees Covered
As of the June 30, 2023, actuarial valuation, the following current and former employees were covered by the benefit terms under the plan:

Active 106
Inactive employees or beneficiaries currently receiving benefits 83 Total 189
Net OPEB Liability
The results of the June 30, 2023 valuation was based on the following actuarial methods and assumptions:

Actuarial Cost Method Entry Age Normal
Actuarial Assumptions
Discount Rate 6.75%
Inflation 2.50%
Salary Increases 2.75% per year
Investment Rate of Return 6.44%, net of expenses
Mortality Rate 2021 CalPERS Active Mortality for Miscellaneous Employees
Pre-Retirement Turnover 2021 CalPERS Turnover
Healthcare Trend Rate 4.00% per year

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 10 - OTHER POST-EMPLOYMENT EMPLOYEE BENEFITS
64

The long-term expected rate of return on OPEB plan investments was determined using a building-block method in which expected future real rates of return (expected returns, net of OPEB plan investment expense and inflation) are developed for each major asset class. The expected investment return was offset by investment expenses of 25 basis points. The assumed asset allocation and assumed rate of return for each asset class are summarized in the following table:

Asset Class
Percentage of
Portfolio
Assumed
Gross Return
All Equities 49.000 % 7.250 %
All Fixed Income 23.000 % 4.250 %
Real Estate Investment Trusts 20.000 % 7.250 %
All Commodities 3.000 % 7.250 %
Treasury Inflation Protected Securities (TIPS) 5.000 % 3.000 % Total 100.000 %
Discount Rate
The discount rate used to measure the total OPEB liability was 6.75 percent. The projection of cash flows used to determine the discount rate assumed that City contributions will be made at rates equal to the actuarially determined contribution rates. Based on those assumptions, the OPEB plan’s fiduciary net position was projected to be available to make all projected OPEB payments for current active and inactive employees and beneficiaries.

Therefore, the long-term expected rate of return on OPEB plan investments was applied to all periods of projected benefit payments to determine the total OPEB liability.

Changes in the OPEB Liability
The changes in the net OPEB liability for the Plan are as follows:

Total OPEB Plan Fiduciary Net OPEB
Liability Net Position Liability/(Asset)
(a) (b) (c) = (a) - (b)
Balance at June 30, 2024 (measurement date 6/30/2023) $ 24,413,187 $ 6,454,510 $ 17,958,677 Changes recognized for the
measurement period:

Service cost 543,496 - 543,496
Interest 1,555,306 713,791 841,515
Changes of assumptions (1,416,004) - (1,416,004)
Contributions to trust-employer - 1,663,448 (1,663,448) Benefit payments (1,068,448) (1,068,448) -
Administrative expense - (2,114) 2,114
Net changes during 2024-25 (385,650) 1,306,677 (1,692,327) Balance at June 30, 2025 (measurement date 6/30/2024) $ 24,027,537 $ 7,761,187 $ 16,266,350 The net OPEB liabilities for the City’s pension plan have been liquidated by funding from the General Fund.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 10 - OTHER POST-EMPLOYMENT EMPLOYEE BENEFITS (CONTINUED) 65

Sensitivity of the Net OPEB Liability to Changes in the Discount Rate The following presents the net OPEB liability of the City if it were calculated using a discount rate that is one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2024:

Current
1% Percent Discount Rate 1% Percent
(5.75%) (6.75%) (7.75%)
Net OPEB Liability $ 19,461,019 $ 16,266,350 $ 13,610,338 Sensitivity of the Net OPEB Liability to Changes in the Health Care Cost Trend Rates The following presents the net OPEB liability of the City if it were calculated using health care cost trend rates that are one percentage point lower or one percentage point higher than the current rate, for measurement period ended June 30, 2024:

Current
Heathcare
1% Decrease Cost Trend Rates 1% Increase
Net OPEB Liability $ 13,013,379 $ 16,266,350 $ 20,115,331 OPEB Plan Fiduciary Net Position
CalPERS issues a separate Annual Comprehensive Financial Report. Copies of the annual financial report may be obtained from the CalPERS Executive Office at 400 P Street, Sacramento, California, 95814.

OPEB Expense and Deferred Outflows/Inflows of Resources Related to OPEB For the fiscal year ended June 30, 2025, the City recognized OPEB expense of $2,367,674.

Amounts of $997,662 are reported as deferred outflows of resources related to contributions subsequent to the measurement date will be recognized as a reduction of the net OPEB liability in the year ended June 30, 2026.

Amounts reported as deferred inflows and outflows of resources related to OPEB will be recognized in future OPEB expenses as follows:

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 10 - OTHER POST-EMPLOYMENT EMPLOYEE BENEFITS (CONTINUED) 66

Deferred Outflows Deferred Inflows
of Resources of Resources
Contributions subsequent to the
measurement date $ 997,662 $ -
Changes of assumptions 1,745,726 (1,219,336)
Differences between expected and
actual experience 1,544,380 (66,779)
Net difference between projected
and actual return on assets 132,990 -
Total $ 4,420,758 $ (1,286,115)
Deferred
Outflows/(Inflows)
Fiscal year ended June 30, of Resources
2026 $ 687,151
2027 876,554
2028 369,020
2029 204,926
2030 164,667
Thereafter (165,337)
Total $ 2,136,981
NOTE 11 - RISK MANAGEMENT
A. Description of Self-Insurance Pool Pursuant to Joint Powers Agreement The City is a member of the California Joint Powers Insurance Authority (Authority).The Authority is composed of 124 California public entities and is organized under a joint power’s agreement pursuant to California Government Code §6500 et seq. The purpose of the Authority is to arrange and administer programs for the pooling of selfinsured losses, to purchase excess insurance or reinsurance, and to arrange for group purchased insurance for property and other lines of coverage. The California JPIA began covering claims of its members in 1978. Each member government has an elected official as its representative on the Board of Directors. The Board operates through a nine-member Executive Committee.

B. Self-Insurance Programs of the Authority
Risk Pool Membership
The City is a member of the California Joint Powers Insurance Authority (Authority). The Authority is composed of 126 California public entities and is organized under a joint powers agreement pursuant to California Government Code §6500 et seq. The Authority arranges and administers programs for the pooling of self-insured losses, purchases excess insurance and reinsurance, and arranges for group purchased insurance for property and other lines of coverage. The California JPIA began covering claims of its members in 1978. Each member government has an elected official as its representative on the Authority’s Board of Directors. The Board operates through a nine-member Executive Committee.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 10 - OTHER POST-EMPLOYMENT EMPLOYEE BENEFITS (CONTINUED) 67

Excess Liability Program
Liability coverage includes auto liability, employment practices liability, public officials’ errors and omissions, bodily injury, personal injury, third party property damage, advertising injury, and employee benefit administration liability.

The City has a retained limit of $150,000 per occurrence. The overall coverage limit for each member, including all layers of coverage, is $50 million per occurrence. The coverage structure is composed of a combination of pooled self-insurance, reinsurance, and excess insurance. Additional information concerning the coverage structure is available on the Authority’s website: https://cjpia.org/coverage/risk-sharing-pools/.

Primary Workers’ Compensation Program
For 2023-24 the Authority’s pooled retention is $1 million per occurrence, with reinsurance to statutory limits under California Workers’ Compensation Law. Employer’s Liability losses are pooled among members to $1 million. Coverage from $1 million to $5 million is purchased through reinsurance policies, and Employer’s Liability losses from $5 million to $10 million are pooled among members.

C. Purchased Insurance
The City also participates in the following coverage programs provided by the Authority:
(A) All-Risk Property Protection Program. This insurance protection is underwritten by several insurance companies. The City’s property is currently insured according to a schedule of covered property submitted by the City to the Authority. The total insured value of scheduled City property is $51,750,522. There is a $10,000 deductible per occurrence except for non-emergency vehicle insurance which has a $2,500 deductible. (B) Earthquake and Flood Insurance. This coverage is part of the Property Protection Program. The City has total insured values of $43,731,311 scheduled for coverage under this program. There is a deductible of 5% per unit of value with a minimum deductible of $100,000.
(C) Pollution Legal Liability Insurance Program. The policy covers sudden and gradual pollution of scheduled property, streets, and storm drains owned by the City. Coverage is on a claims-made basis. There is a $250,000 deductible. The Authority has an aggregate limit of $20 million. (D) Crime Insurance Program. Formerly called Blanket Fidelity Bond, this policy covers faithful performance, depositor’s forgery, theft of money and securities, and computer fraud related to the transfer of money. The policy limit is $1,000,000, and the deductible is $2,500.

D. Adequacy of Protection
During the past three fiscal years, none of the above programs of protection experienced settlements or judgments that exceeded pooled or insured coverage. There were also no significant reductions in pooled or insured liability coverage in 2023-24.

NOTE 12 - SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY The California Supreme Court upheld Assembly Bill 1X 26 (“the Bill”) that provides for the dissolution of all redevelopment agencies in the State of California. This action impacted the reporting entity of the City that previously had reported a redevelopment agency within the reporting entity of the City as a blended component unit.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 11 - RISK MANAGEMENT (CONTINUED)
68

The Bill provided that upon dissolution of a redevelopment agency, either the City or another unit of local government will agree to serve as the “successor agency” to hold the assets until they are distributed to other units of state and local government. On January 11, 2012, the City Council elected to become the Successor Agency for the former redevelopment agency in accordance with the Bill as part of City resolution number 2012-08-2547. In accordance with the timeline set forth in the Bill (as modified by the California Supreme Court on December 29, 2011) all redevelopment agencies in the State of California were dissolved and ceased to operate as a legal entity as of February 1, 2012.

After enactment of the law, which occurred on June 28, 2011, redevelopment agencies in the State of California cannot enter into new projects, obligations or commitments. Subject to the control of a newly established oversight board, remaining assets can only be used to pay enforceable obligations in existence at the date of dissolution (including the completion of any unfinished projects that were subject to legally enforceable contractual commitments).

Successor agencies will only be allocated revenue in the amount that is necessary to pay the estimated annual installment payments on enforceable obligations of the former redevelopment agency until all enforceable obligations of the prior redevelopment agency have been paid in full and all assets have been liquidated.

A. Cash and Investments
Cash and investments reported in the accompanying financial statements consisted of the following:

Cash and investments pooled with the City $ 7,500,314
Cash and investments with fiscal agent 3,805,336
Total cash and investments $ 11,305,650

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 12 - SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY (CONTINUED)
69

B. Long-term Debt
Long-term debt activity for the year ended June 30, 2025, was as follows:

Balance Balance Due Within
July 1, 2024 Additions Deletions June 30, 2025 One Year Public Offerings:

Tax Allocation Bonds:
2005 Tax Allocation Housing
Parity Bonds $ 4,940,000 $ - $ 1,455,000 $ 3,485,000 $ 1,535,000 2006 Tax Allocation Refunding
Parity Bonds 8,390,000 - 3,225,000 5,165,000 3,410,000
Allocation Refunding Bonds 4,120,000 - 1,285,000 2,835,000 2,835,000 2014 Tax Allocation Refunding
Parity Bonds 1,595,000 - 785,000 810,000 810,000
2014 Taxable Housing Tax
Allocation Refunding Parity Bonds 570,000 - 275,000 295,000 295,000 Totals $ 19,615,000 $ - $ 7,025,000 12,590,000 $ 8,885,000 Unamortized bond premium 154,487
Unamortized bond discount (1,146)
$ 12,743,341
Tax Allocation Bonds
A description of individual issues of bonds outstanding at June 30, 2025, was as follows:
2005 Taxable Housing Tax Allocation Parity Bonds
On August 2, 2005, the former redevelopment agency issued $17,445,000 of Taxable Housing Tax Allocation Parity Bonds to refinance the outstanding balance of the 1998 Tax Allocation Housing Refunding Bonds and to finance low- and moderate-income housing activities of the former redevelopment agency. The 2005 Taxable Housing Tax Allocation Parity Bonds were payable on a parity with certain obligations of the former redevelopment agency solely from certain Housing Set-Aside Revenues of the former redevelopment agency. The bonds consist of $5,225,000 serial bonds maturing from August 2006 through August 2017 bearing annual interest ranging from

4.32% to 5.25%, $5,900,000 term bonds due August 1, 2022, bearing annual interest at 5.4%, and $6,320,000 term bonds due August 1, 2026, bearing annual interest at 5.53%. Interest on the bonds is payable beginning February 1, 2006, and semi-annually thereafter on August 1 and February 1. The outstanding balance as of June 30, 2025, is $3,485,000.

The annual requirements to amortize the outstanding bond indebtedness, including interest, are as follows:

Year Ending
June 30,
2005 Taxable Housing Tax
Allocation Parity Bonds
Principal Interest
2026 $ 1,535,000 $ 150,278
2027 1,950,000 53,918
Totals $ 3,485,000 $ 204,196

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 12 - SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY (CONTINUED)
70

The outstanding bonds contain a provision that if an event of default should occurred and is continuing, the Trustee may, and shall if requested in writing by the Insurer or the Owners of a majority in aggregate principal amount of the bonds then outstanding (a) declare the principal of the bonds, together with the accrued interest thereon, to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything in the Indenture or in the bonds to the contrary notwithstanding, and (b) upon receipt of any indemnity satisfaction to it from any liability or expense, exercise any other remedies available to the Trustee and the Owner in law or at equity.
2006 Tax Allocation Refunding Parity Bonds
In July 2006, the former redevelopment agency issued the City Industrial Development Project 2006 Tax Allocation Refunding Parity Bonds in the amount of $44,035,000 for the purpose of refunding, on a current basis, the Agency’s 1996 Senior Lien Tax Allocation Bonds. The 2006 Tax Allocation Refunding Parity Bonds were payable on a parity with certain obligations of the former redevelopment agency solely from certain tax increment revenues allocated to the former redevelopment agency as further discussed in each official statement of the issue. The bonds consist of $18,465,000 serial bonds maturing from January 15, 2007 through July 15, 2017, bearing annual interest ranging from 4.25% to 5.25%, and term bonds ranging from $2,275,000 to $3,510,000 due July 15, 2020, through 2026, respectively, and bearing annual interest at 5.25% and 5.85%, respectively. Interest on the bonds is payable semi-annually on January 15 and July 15. The outstanding balance as of June 30, 2025 was $5,165,000.

The annual requirements to amortize the outstanding bond indebtedness as of June 30, 2025, including interest, are as follows:

Year Ending
June 30,
2006 Tax Allocation Refunding
Parity Bonds
Principal Interest
2026 $ 3,410,000 $ 253,744
2027 1,755,000 51,334
Totals $ 5,165,000 $ 305,078
The outstanding bonds contain a provision that if an event of default should occurred and is continuing, the Trustee may (with the consent of the Insurer), if requested in writing by the Owners of a majority in aggregate principal amount of the bonds then outstanding the Trustee shall, (a) declare principal of the bonds, together with the accrued interest thereon, to be due and payable immediately and upon any such declaration the same shall become immediately due and payable, anything in the Indenture or in the bonds to the contrary notwithstanding, and (b) exercise any other remedies available to the Trustee and the Owners in law or at equity. 2006 Subordinate Lien Tax Allocation Refunding Bonds
In October 2006, the former redevelopment agency issued the City Industrial Development Project 2006 Subordinate Lien Tax Allocation Refunding Bonds in the amount of $18,505,000 for the purpose of refunding, on a current basis, the former redevelopment agency’s 1996 Subordinate Lien Tax Allocation Bond. The 2006 Subordinate Lien Tax Allocation Refunding Bonds were payable on a subordinate basis to certain obligations of the former redevelopment agency solely from certain tax increment revenues allocated to the former redevelopment agency as further discussed in each official statement for the issue. The bonds consist of $18,505,000 serial bonds ranging from $565,000 to $1,475,000 maturing from December 1, 2007 through June 1, 2026, bearing annual interest ranging from 4.50% to 5.50%, due December 1, 2007 through 2026, respectively.

Interest on the bonds is payable annually on December 1. The outstanding balance as of June 30, 2025, was $2,835,000.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 12 - SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY (CONTINUED)
71

The annual requirements to amortize the outstanding bond indebtedness, including interest, are as follows:

Year Ending
June 30,
2006 Subordinate Lien Tax
Allocation Refunding Bonds
Principal Interest
2026 $ 2,835,000 $ 118,525
Totals $ 2,835,000 $ 118,525
The outstanding bonds contain a provision that if an event of default should occur and continuance of an event of default as defined herein, Insurer shall be entitled to control and direct the enforcement of all rights and remedies grants to the Owners or the Trustee for the benefit of the Owners under the Indenture including, without limitation (i) right to accelerate the principal of the 2006 Bonds as described in the Indenture, and (ii) the right to annul any declaration of acceleration, and Insurer shall also be entitled to approve all waivers of events of default. 2014 Tax Allocation Refunding Parity Bonds
In April 2014, the Successor Agency issued the City Industrial Development Project 2014 Tax Allocation Refunding Parity Bonds in the amount of $7,910,000 for the purpose of refunding, on a current basis, the former redevelopment agency previously issued $14,175,000 City Industrial Development Project 2002 Tax Allocation Senior Parity Bonds. The 2002 Tax Allocation Senior Parity Bonds were payable and secured solely from nonhousing tax revenues. Interest on the bonds is payable semi-annually on January 15 and July 15, commencing July 15, 2014. The bonds carry various interest rates from 2.0% to 5.0%. Principal maturities begin July 15, 2014 and continue through 2025. The outstanding balance as of June 30, 2025, was $810,000.

The annual requirements to amortize the outstanding bond indebtedness, including interest, are as follows:

Year Ending
June 30,
2014 Tax Allocation Refunding
Parity Bonds
Principal Interest
2026 $ 810,000 $ 12,150
Totals $ 810,000 $ 12,150
The outstanding bonds contain a provision that if an event of default should occur and is continuing, the Trustee may, and if requested in writing by the Owners of a majority in aggregate principal amount of the bonds then outstanding, the Trustee shall, (a) declare the principal of the bonds, together with the accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything in the Indenture to the contrary notwithstanding, and (b) upon receipt of indemnity satisfactory to it from any liability or expense, exercise any other remedies available to the Trustee and the Owners in law or at equity.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 12 - SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY (CONTINUED)
72

2014 Taxable Housing Tax Allocation Refunding Parity Bonds In April 2014, the Successor Agency issued the City Industrial Development Project 2014 Taxable Housing Tax Allocation Refunding Parity Bonds in the amount of $2,915,000 for the purpose of refunding, on a current basis, the former redevelopment agency’s previously issued $17,445,000 City Industrial Development Project 2005 Taxable Housing Tax Allocation Parity Bonds. The 2002 Tax Allocation Senior Parity Bonds were payable and secured solely from housing tax revenues to be derived from the project area. Interest on the bonds is payable semi-annually on January 15 and July 15, commencing July 15, 2014. The bonds carry various interest rates from

2.0% to 5.0%. Principal maturities begin July 15, 2014 and continue through 2025. The outstanding balance as of June 30, 2025, was $295,000.

The annual requirements to amortize the outstanding bond indebtedness, including interest, are as follows:

Year Ending
June 30,
2014 Taxable Housing Tax
Allocation Refunding Parity Bonds
Principal Interest
2026 $ 295,000 $ 7,191
Totals $ 295,000 $ 7,191
The outstanding bonds contain a provision that if an event of default should occur and is continuing, the Trustee may, and if requested in writing by the Owners of a majority in aggregate principal amount of the bonds then outstanding, the Trustee shall, (a) declare the principal of the bonds, together with the accrued interest thereon to be due and payable immediately, and upon any such declaration the same shall become immediately due and payable, anything in the Indenture to the contrary notwithstanding, and (b) upon receipt of indemnity satisfactory to it from any liability or expense, exercise any other remedies available to the Trustee and the Owners in law or at equity.

Pledged Revenue
The City pledged, as security for bonds issued, either directly or through the Financing Authority, a portion of tax increment revenue (including Low and Moderate Income Housing set-aside and pass through allocations) that it receives. The bonds issued were to provide financing for various capital projects, accomplish Low and Moderate Income Housing projects and to defease previously issued bonds. Assembly Bill 1X 26 provided that upon dissolution of the Redevelopment Agency, property taxes allocated to redevelopment agencies no longer are deemed tax increment but rather property tax revenues and will be allocated first to successor agencies to make payments on the indebtedness incurred by the dissolved redevelopment agency. Total principal and interest remaining on the debt is $21,188,381 with annual debt service requirements as indicated above. For the current year, the total property tax revenue recognized by the Successor Agency for the payment of indebtedness incurred by the dissolved redevelopment agency $6,935,764 and the debt service obligation on the bonds was $7,951,241.

C. Insurance
The Successor Agency is covered under the City’s insurance policies. Therefore, the limitation and self-insured retentions applicable to the City also apply to the Successor Agency. Additional information as to coverage and self-insured retentions can be found in Note 11.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 12 - SUCCESSOR AGENCY TRUST FOR ASSETS OF FORMER REDEVELOPMENT AGENCY (CONTINUED)
73

During fiscal year 2024-2025 the Irwindale Community Foundation received donations in the amount of $5,000 from Royal Coaches, $1,000 from SC Fuels, $20,000 from Rexford Industrial, $150 from IDR Environmental, $150 from Charity One Insurance Agency, Inc., $50 from a resident, and $250,000 from Huy Fong Foods, Inc. On May 21, 2024, the Foundation’s Board approved the Executive Director’s recommended $101,595 reallocation of previously donated funds through Resolution No. ICF 2024-02-037 as follows:

Aquatics $ 19,500
Library 4,300
Recreation 42,860
Senior Center 34,935
Subtotal 101,595
Agenda Software Fee Reimbursement
to the City of Irwindale 580
Total $ 102,175
Additionally on June 26, 2024, the City Council of the City of Irwindale also approved and accepted the reallocation of $101,595 previously donated funds to the above program and activities through Resolution No. 2024-27-3504.

NOTE 14 - CONTINGENCIES
There are certain claims and lawsuits pending against the City that seek monetary damages. As of June 30, 2025, in the opinion of City management, there was no additional outstanding matters that would have a significant effect on the financial position of the City.

NOTE 15 - RESTATEMENT OF NET POSITION
A. Change in Accounting Principle
For fiscal year ended June 30, 2025, the City implemented GASB Statement No. 101, Compensated Absences, which updated the recognition and measurement guidance for compensated absences, to align recognition and measurement under a single unified model to better meet the needs of financial statement users; refer to note 1.

The effect of the implementation of the change in accounting principle is shown in table below.

June 30, 2024
As Previously
Reported
Changes in
Accounting
Principle
June 30, 2024
As Restated
Government-wide
Governmental activities $ 167,965,794 $ (379,082) $ 167,586,712 Total government-wide $ 167,965,794 $ (379,082) $ 167,586,712

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 13 - RELATED PARTY TRANSACTION
74

The City evaluated subsequent events for recognition and disclosure through January 28, 2026, the date on which these financial statements were available to be issued. Management concluded that no material subsequent events have occurred since June 30, 2025, that required recognition or disclosure in these financial statements.

CITY OF IRWINDALE, CALIFORNIA
Notes to the Basic Financial Statements
For the Year Ended June 30, 2025
NOTE 16 - SUBSEQUENT EVENTS
75

Required Supplementary Information
76

Schedules of Proportationate Share of Net Pension Liability Proportionate Share Plan's Fiduciary
Proportion of the Proportionate of the Net Pension Net Position as a Reporting Date 1 Net Pension Share of Net Liability as a % of % of the Total as of June 30, Liability Pension Liability Covered Payroll Covered Payroll Pension Liability Miscellaneous Plan
2025 0.0342% $ 4,147,770 $ 6,694,804 62.0% 79.9%
2024 0.0350% 4,368,276 6,242,919 70.0% 77.4%
2023 0.0662% 3,097,284 5,673,204 54.6% 76.7%
2022 (0.2918)% (5,540,165) 4,918,304 (112.6)% 88.3%
2021 0.0220% 926,142 5,041,489 18.4% 75.3%
2020 0.9522% 3,813,222 4,553,394 83.7% 75.3%
2019 0.1579% 5,950,032 4,292,439 138.6% 75.3%
2018 0.2452% 9,666,931 3,946,594 244.9% 73.3%
2017 0.2365% 8,216,929 3,660,664 224.5% 74.1%
2016 0.2186% 5,996,900 3,567,161 168.1% 69.7%
Safety Plan
2025 0.0523% $ 5,477,431 $ 3,728,501 146.9% 76.7%
2024 0.0529% 5,837,427 3,152,778 185.2% 74.9%
2023 0.0644% 4,423,471 2,706,167 163.5% 75.5%
2022 (0.1100)% (3,859,183) 3,177,983 (121.4)% 86.6%
2021 0.0367% 2,447,637 3,041,816 80.5% 73.1%
2020 0.0773% 4,823,965 2,782,130 173.4% 75.3%
2019 0.1202% 7,049,987 2,676,103 263.4% 75.3%
2018 0.1790% 10,693,035 2,616,364 408.7% 73.3%
2017 0.1799% 9,315,683 2,350,221 396.4% 74.1%
2016 0.1752% 7,217,544 2,186,973 330.0% 78.3%
Notes to Schedule of Proportionate Share of the Net Pension Liability:

Benefit Changes: None
Changes of Assumptions: None
1The proportions and proportionate share of the net pension liability are measured as of one year behind the reporting date. Refer to notes to basic financial statements.

CITY OF IRWINDALE, CALIFORNIA
Schedules of Proportationate Share of Net Pension Liability As of June 30, for the Last Ten Fiscal Years (1)
77

Schedule of Changes in Net Pension Liability and Related Ratios - Retirement Enhancement Plan 2025 2024 2023 2022
Measurement Date 6/30/2024 6/30/2023 6/30/2022 6/30/2021

TOTAL PENSION LIABILITY
Service cost $ 156,192 $ 172,162 $ 167,473 $ 194,559
Interest on total pension liability 888,545 858,785 810,800 787,629 Changes of benefit terms 314,977 - 511,571 -
Changes of assumptions 140,561 - (108,162) -
Benefit payments, including refunds of employee contributions (739,535) (690,572) (660,885) (564,348) Net change in total pension liability 760,740 340,375 720,797 417,840 Total pension liability-beginning 13,230,602 12,890,227 12,169,430 11,751,590 Total pension liability-ending (a) 13,991,342 13,230,602 12,890,227 12,169,430

PLAN FIDUCIARY NET POSITION
Contributions-employer 775,306 830,835 677,982 744,770
Contributions-employee 59,419 21,902 23,177 23,593
Net investment income 1,047,954 1,160,185 711,487 (1,339,397) Benefit payments, including refunds of employee contributions (739,535) (690,572) (660,885) (564,348) Administrative expense (18,684) (17,007) (15,921) (16,803) Net change in fiduciary net position 1,124,460 1,305,343 735,840 (1,152,185) Plan fiduciary net position-beginning 10,457,093 9,151,750 8,415,910 9,568,095 Plan fiduciary net position-ending (b) 11,581,553 10,457,093 9,151,750 8,415,910 Net pension liability/(asset) (a) - (b) $ 2,409,789 $ 2,773,509 $ 3,738,477 $ 3,753,520 Plan fiduciary net position as a percentage of the total pension liability 82.8% 79.0% 71.0% 69.2%
Covered-employee payroll $ 2,726,854 $ 2,894,008 $ 2,843,160 $ 2,806,290 Plan net pension liability/(asset) as a percentage of coveredemployee payroll 88.4% 95.8% 131.5% 133.8% Notes to Schedule of Changes in the Net Pension Liability and Related Ratios:

Benefit Changes : None
Changes of Assumptions : None

CITY OF IRWINDALE, CALIFORNIA
Schedule of Changes in Net Pension Liability and Related Ratios Retirement Enhancement Plan
As of June 30, for the Last Ten Fiscal Years
78

2021 2020 2019 2018 2017 2016
6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 $ 189,132 $ 191,206 $ 186,089 $ 200,039 $ 194,213 $ 224,310 725,646 702,559 650,863 654,683 673,221 684,249
537,402 - 920,946 - (544,681) -
- - (415,843) 408,409 192,042 -
(515,133) (583,078) (579,586) (691,543) (858,176) (578,327) 937,047 310,687 762,469 571,588 (343,381) 330,232
10,814,543 10,503,856 9,741,387 9,169,799 9,513,180 9,182,948 11,751,590 10,814,543 10,503,856 9,741,387 9,169,799 9,513,180 555,300 559,051 488,197 546,242 248,061 524,910
20,711 21,063 26,751 38,549 10,587 30,941
1,970,350 183,556 477,852 522,018 757,582 (60,544)
(515,133) (583,078) (579,586) (691,543) (858,176) (578,327) (15,451) (14,380) (54,670) (51,768) (26,690) (13,193)
2,015,777 166,212 358,544 363,498 131,364 (96,213)
7,552,318 7,386,106 7,027,562 6,664,064 6,532,700 6,628,913 9,568,095 7,552,318 7,386,106 7,027,562 6,664,064 6,532,700 $ 2,183,495 $ 3,262,225 $ 3,117,750 $ 2,713,825 $ 2,505,735 $ 2,980,480

81.4% 69.8% 70.3% 72.1% 72.7% 68.7%
$ 2,968,567 $ 2,921,452 $ 2,923,962 $ 3,039,766 $ 2,951,229 $ 2,865,271

73.6% 111.7% 106.6% 89.3% 84.9% 104.0%
79

OPEB Plan - Schedule of Changes in the Net OPEB Liability and Related Ratios 2025 2024 2023 2022
Measurement Date 6/30/2024 6/30/2023 6/30/2022 6/30/2021

TOTAL OPEB LIABILITY
Service cost $ 543,496 $ 431,129 $ 397,382 $ 335,912
Interest on total pension liability 1,555,306 1,356,696 1,317,498 1,245,976 Changes of assumptions (1,416,004) 1,258,101 567,051 1,167,269 Difference between expected and actual experience - 1,286,029 - 252,667 Benefit payments, including refunds of employee contributions (1,068,448) (1,022,838) (995,332) (816,052) Net change in total OPEB liability (385,650) 3,309,117 1,286,599 2,185,772 Total OPEB liability-beginning 24,413,187 21,104,070 19,817,471 17,631,699 Total OPEB liability-ending (a) 24,027,537 24,413,187 21,104,070 19,817,471

PLAN FIDUCIARY NET POSITION
Contributions-employer 1,663,448 1,284,810 995,332 816,052 Investment - - (1,352,519) 1,080,004
Net investment income 455,689 377,318 453,390 368,889
Benefit payments, including refunds of employee contributions (1,068,448) (1,022,838) (995,332) (816,052) Administrative expense (2,114) (1,691) (1,701) (1,994)
Other miscellaneous income/(expense) 258,102 - - -
Net change in fiduciary net position 1,306,677 637,599 (900,830) 1,446,899 Plan fiduciary net position-beginning 6,454,510 5,816,911 6,717,741 5,270,842 Plan fiduciary net position-ending (b) 7,761,187 6,454,510 5,816,911 6,717,741 Net OPEB liability/(asset) (a) - (b) $ 16,266,350 $ 17,958,677 $ 15,287,159 $ 13,099,730 Plan fiduciary net position as a percentage of the total OPEB liability 32.3% 26.4% 27.6% 33.9%
Covered-employee payroll $ 10,423,305 $ 9,994,388 $ 8,666,212 $ 8,242,890 Plan net OPEB liability/(asset) as a percentage of coveredemployee payroll 156.1% 179.7% 176.4% 158.9% Notes to Schedule of Changes in the Net OPEB Liability and Related Ratios:

Benefit Changes: None
Changes of Assumptions: None
1Fiscal year 2018 was the first year of GASB Statement No. 75 implementation; therefore only eight years are shown.

CITY OF IRWINDALE, CALIFORNIA
Schedule of Changes in the Net OPEB Liability and Related Ratios As of June 30, For the Last Ten Fiscal Years1
80

2021 2020 2019 2018
6/30/2020 6/30/2019 6/30/2018 6/30/2017
$ 326,922 $ 275,083 $ 267,721 $ 260,556
1,173,720 997,849 970,201 945,602
- - - -
(181,919) 2,100,844 - -
(763,891) (837,754) (846,449) (877,377)
554,832 2,536,022 391,473 328,781
17,076,867 14,540,845 14,149,372 13,820,591
17,631,699 17,076,867 14,540,845 14,149,372
763,891 887,754 846,449 1,150,227
(176,501) (41,091) 42,524 -
356,450 334,298 308,311 408,831
(763,891) (837,754) (846,449) (877,377)
(2,488) (1,018) (8,182) (2,078)
- - - -
177,461 342,189 342,653 679,603
5,093,381 4,751,192 4,408,539 3,728,936
5,270,842 5,093,381 4,751,192 4,408,539
$ 12,360,857 $ 11,983,486 $ 9,789,653 $ 9,740,833

29.9% 29.8% 32.7% 31.2%
$ 7,845,408 $ 7,565,795 $ 6,545,334 $ 6,509,959
157.6% 158.4% 149.6% 149.6%
81

Schedules of Plan Contributions
Covered/ Contribution as a
Fiscal Year Actuarially Actual Contribution Covered- % of Covered/ Ending Determined Employer Deficiency Employee Covered Employee June 30, Contribution Contributions (Excess) Payroll Payroll Miscellaneous Cost-Sharing, Multiple-Employer Pension Plan 2025 $ 791,478 $ 791,478 $ - $ 7,218,436 25.2%
2024 626,865 736,241 (109,376) 6,694,804 11.0%
2023 633,848 680,736 (46,888) 6,242,919 10.9%
2022 586,048 814,904 (228,856) 5,673,204 14.4%
2021 524,235 673,395 (149,160) 4,918,304 13.7%
2020 481,070 4,089,313 (3,608,243) 5,041,489 81.1%
2019 425,569 3,866,108 (3,440,539) 4,553,394 84.9%
2018 719,281 4,116,032 (3,396,751) 4,292,439 95.9%
2017 610,791 610,791 - 3,946,594 15.5%
2016 541,695 541,695 - 3,660,664 14.8%
Safety Cost-Sharing, Multiple-Employer Pension Plan
2025 $ 963,649 $ 963,649 $ - $ 3,924,644 28.7%
2024 904,284 941,052 (36,768) 3,728,501 25.2%
2023 839,298 891,350 (52,052) 3,152,778 28.3%
2022 827,065 1,141,996 (314,931) 2,993,007 38.2%
2021 734,338 965,453 (231,115) 2,706,167 35.7%
2020 700,216 4,091,973 (3,391,757) 3,177,983 128.8%
2019 647,217 4,206,678 (3,559,461) 3,041,816 138.3%
2018 1,010,881 4,614,130 (3,603,249) 2,782,130 165.8%
2017 895,256 895,256 - 2,676,103 33.5%
2016 813,764 813,764 - 2,616,364 31.1%
Retirement Enhancement Plan
2025 $ 826,545 $ 775,306 $ 51,239 $ 2,726,854 28.4%
2024 885,929 830,835 55,094 2,894,008 28.7%
2023 696,408 677,982 18,426 2,843,160 23.8%
2022 747,485 744,770 2,715 2,806,290 26.5%
2021 596,891 555,300 41,591 2,968,567 18.7%
2020 604,091 559,051 45,040 2,921,452 19.1%
2019 498,568 488,197 10,371 2,923,962 16.7%
2018 517,055 546,242 (29,187) 3,039,766 18.0%
2017 428,931 248,061 180,870 2,951,229 8.4%
2016 484,020 524,910 (40,890) 2,865,271 18.3%
Single Employer OPEB Plan
2025 $ 997,662 $ 997,662 $ - $ 11,143,079 -%
2024 903,752 1,284,810 (381,058) 10,423,305 12.3%
2023 898,714 898,714 - 9,994,388 9.0%
2022 790,028 790,028 - 8,666,212 9.1%
2021 816,052 816,052 - 8,242,890 9.9%
2020 763,891 763,891 - 7,845,408 9.7%
2019 887,754 887,754 - 7,565,795 11.7%
2018 870,790 870,790 - 6,545,334 13.3%

CITY OF IRWINDALE, CALIFORNIA
Schedules of Plan Contributions
As of June 30, For the Last Ten Fiscal Years
82

Budgetary Comparison Schedule - General Fund
Licenses and permits 2,350,614 2,350,614 1,325,018 (1,025,596) Intergovernmental 42,000 347,040 131,503 (215,537)
Charges for services 584,991 584,991 1,042,023 457,032
Use of money and property 920,000 1,050,000 5,976,197 4,926,197 Fines and forfeitures 147,000 147,000 226,144 79,144
Contributions 45,000 45,000 61,198 16,198
Miscellaneous 1,342,039 1,342,039 1,477,716 135,677
Total revenues 26,495,366 26,930,406 33,638,863 6,708,457

EXPENDITURES
Current:

General government 9,517,000 10,278,452 9,957,467 320,985 Public safety 9,483,461 9,880,072 8,594,208 1,285,864
Community development 512,430 796,772 528,600 268,172
Parks and recreation 3,232,976 3,519,748 3,072,011 447,737 Public works 4,455,946 5,153,693 3,651,724 1,501,969
Capital outlay 278,933 1,427,627 1,517,018 (89,391)
Debt service:

Principal - - 86,618 (86,618)
Interest and fiscal charges - - 4,468 (4,468)
Total expenditures 27,480,746 31,056,364 27,412,114 3,644,250 Excess (deficiency) of revenues
over (under) expenditures (985,380) (4,125,958) 6,226,749 10,352,707

OTHER FINANCING SOURCES (USES)
Transfers in 1,876,970 1,876,970 1,726,036 (150,934)
Transfers out (800,000) (13,543,731) (3,027,250) 10,516,481 Lease financing - - 73,317 73,317
Subscription financing - - 158,484 158,484
Total other financing sources (uses) 1,076,970 (11,666,761) (1,069,413) 10,597,348 Net change in fund balances $ 91,590 $ (15,792,719) 5,157,336 $ 20,950,055 Fund balances-beginning 62,394,744
Fund balances-ending $ 67,552,080
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Taxes $ 21,063,722 $ 21,063,722 $ 23,399,064 $ 2,335,342

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual General Fund
For the Year Ended June 30, 2025
83

Budgetary Comparison Schedule - Housing Authority
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Use of money and property $ 25,400 $ 25,400 $ 497,443 $ 472,043 Miscellaneous - - 3,859 3,859
Total revenues 25,400 25,400 501,302 475,902

EXPENDITURES
Current:

Housing activities 550,660 578,700 415,926 162,774
Capital outlay - - 901,720 (901,720)
Total expenditures 550,660 578,700 1,317,646 (738,946)
Net change in fund balances $ (525,260) $ (553,300) (816,344) $ (263,044) Fund balances-beginning 16,811,910
Fund balances-ending $ 15,995,566

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Housing Authority
For the Year Ended June 30, 2025
84

Budgetary Comparison Schedule - Mining Impact Fund
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Taxes $ 4,250,000 $ 4,250,000 $ 3,562,937 $ (687,063)
Use of money and property 25,000 25,000 427,421 402,421 Miscellaneous - - 3,778 3,778
Total revenues 4,275,000 4,275,000 3,994,136 (280,864)

EXPENDITURES
Current:

General government 2,903,485 3,173,394 2,884,381 289,013 Community development 642,970 818,519 648,734 169,785
Public works 2,311,983 2,364,463 1,997,475 366,988
Capital outlay 223,609 277,284 241,383 35,901
Debt service:

Principal - - 1,600 (1,600)
Total expenditures 6,082,047 6,633,660 5,773,573 860,087 Excess (deficiency) of revenues
over (under) expenditures (1,807,047) (2,358,660) (1,779,437) 579,223

OTHER FINANCING SOURCES (USES)
Transfers out (472,771) (1,245,596) (627,719) 617,877
Lease financing - - 18,329 18,329
Subscription financing - - 4,659 4,659
Total other financing sources (uses) (472,771) (1,245,596) (604,731) 640,865 Net change in fund balances $ (2,279,818) $ (3,604,256) (2,384,168) $ 1,220,088 Fund balances-beginning 13,537,374
Fund balances-ending $ 11,153,206

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Mining Impact Fund
For the Year Ended June 30, 2025
85

Supplementary Information
86

Combining Balance Sheet - Nonmajor Governmental Funds
Special Revenue Funds
Reclamation AB939
Asset
Forfeiture State Gas Tax
ASSETS
Cash and investments $ 11,744,348 $ 1,344,942 $ 538,867 $ 271,323 Receivables:

Accounts 150,867 32,550 - -
Taxes - - - 11,147
Accrued interest 102,434 10,739 5,601 2,465
Total assets $ 11,997,649 $ 1,388,231 $ 544,468 $ 284,935

LIABILITIES
Accounts payable $ 111 $ 2,500 $ 303 $ -
Accrued liabilities - 6,320 - -
Unearned revenues - - - -
Due to other funds - - - -
Total liabilities 111 8,820 303 -

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues - - - -
Total deferred inflows of resources - - - -

FUND BALANCES (DEFICITS)
Restricted:

Public safety - - 544,165 -
Parks and recreation - - - -
Public works 11,997,538 1,306,026 - 284,935
General government - 73,385 - -
Unassigned (deficit) - - - -
Total fund balances (deficits) 11,997,538 1,379,411 544,165 284,935 Total liabilities, deferred inflows, and fund
balances (deficits) $ 11,997,649 $ 1,388,231 $ 544,468 $ 284,935

CITY OF IRWINDALE, CALIFORNIA
Combining Balance Sheet
Nonmajor Governmental Funds
June 30, 2025
87

Special Revenue Funds
Air Quality
Improvement Proposition A Proposition C Measure R
ASSETS
Cash and investments $ 5,515 $ 76,144 $ 40,094 $ 77,062 Receivables:

Accounts 1,014 - - -
Taxes - - - -
Accrued interest 120 626 473 733
Total assets $ 6,649 $ 76,770 $ 40,567 $ 77,795

LIABILITIES
Accounts payable $ - $ 3,388 $ - $ -
Accrued liabilities - - - -
Unearned revenues - - - -
Due to other funds - - - -
Total liabilities - 3,388 - -

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues 522 - - -
Total deferred inflows of resources 522 - - -

FUND BALANCES (DEFICITS)
Restricted:

Public safety - - - -
Parks and recreation - - - -
Public works 6,127 73,382 40,567 77,795
General government - - - -
Unassigned (deficit) - - - -
Total fund balances (deficits) 6,127 73,382 40,567 77,795 Total liabilities, deferred inflows, and fund
balances (deficits) $ 6,649 $ 76,770 $ 40,567 $ 77,795

CITY OF IRWINDALE, CALIFORNIA
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
88

Special Revenue Funds
TDA Article 3 Federal Grants
Community
Development
Block Grant State Grants
ASSETS
Cash and investments $ - $ - $ 1,246 $ 1,417,403
Receivables:

Accounts - 34,203 - -
Taxes - - - -
Accrued interest - - - -
Total assets $ - $ 34,203 $ 1,246 $ 1,417,403

LIABILITIES
Accounts payable $ - $ 6,484 $ - $ -
Accrued liabilities - 3,591 - -
Unearned revenues - - - -
Due to other funds - 28,025 - -
Total liabilities - 38,100 - -

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues - 34,203 - 1,371,336
Total deferred inflows of resources - 34,203 - 1,371,336

FUND BALANCES (DEFICITS)
Restricted:

Public safety - - - -
Parks and recreation - - - -
Public works - - 1,246 -
General government - - - 46,067
Unassigned (deficit) - (38,100) - -
Total fund balances (deficits) - (38,100) 1,246 46,067
Total liabilities, deferred inflows, and fund
balances (deficits) $ - $ 34,203 $ 1,246 $ 1,417,403

CITY OF IRWINDALE, CALIFORNIA
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
89

Special Revenue Funds
COPS
Asset
Forfeiture
State Fund Measure M
Safe Clean
Water Program
ASSETS
Cash and investments $ 399,799 $ 1,423 $ 34,242 $ 1,201,726 Receivables:

Accounts - - - 405,061
Taxes - - - -
Accrued interest 2,977 12 400 10,641
Total assets $ 402,776 $ 1,435 $ 34,642 $ 1,617,428

LIABILITIES
Accounts payable $ 17,773 $ - $ - $ 3,369
Accrued liabilities - - - -
Unearned revenues - - - -
Due to other funds - - - -
Total liabilities 17,773 - - 3,369

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues - - - -
Total deferred inflows of resources - - - -

FUND BALANCES (DEFICITS)
Restricted:

Public safety 385,003 1,435 - -
Parks and recreation - - - -
Public works - - 34,642 1,614,059
General government - - - -
Unassigned (deficit) - - - -
Total fund balances (deficits) 385,003 1,435 34,642 1,614,059 Total liabilities, deferred inflows, and fund
balances (deficits) $ 402,776 $ 1,435 $ 34,642 $ 1,617,428

CITY OF IRWINDALE, CALIFORNIA
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
90

Special Revenue Funds
Development
Impact Fees
Irwindale
Community
Foundation
Total
Nonmajor
Funds
ASSETS
Cash and investments $ 8,740,825 $ 584,386 $ 26,479,345 Receivables:

Accounts - 1,000 624,695
Taxes - - 11,147
Accrued interest 71,012 - 208,233
Total assets $ 8,811,837 $ 585,386 $ 27,323,420

LIABILITIES
Accounts payable $ - $ 1,417 $ 35,345
Accrued liabilities - - 9,911
Unearned revenues - - -
Due to other funds - - 28,025
Total liabilities - 1,417 73,281

DEFERRED INFLOWS OF RESOURCES
Unavailable revenues - - 1,406,061
Total deferred inflows of resources - - 1,406,061

FUND BALANCES (DEFICITS)
Restricted:

Public safety - - 930,603
Parks and recreation - 583,969 583,969
Public works 8,811,837 - 24,248,154
General government - - 119,452
Unassigned (deficit) - - (38,100)
Total fund balances (deficits) 8,811,837 583,969 25,844,078 Total liabilities, deferred inflows, and fund balances
(deficits) $ 8,811,837 $ 585,386 $ 27,323,420

CITY OF IRWINDALE, CALIFORNIA
Combining Balance Sheet (Continued)
Nonmajor Governmental Funds
June 30, 2025
91

Combining Statement of Revenues, Expenditures, and Changes in Fund Balances - Nonmajor Governmental Funds Special Revenue Funds
Reclamation AB939
Asset
Forfeiture State Gas Tax

REVENUES
Taxes $ - $ 384,967 $ - $ 88,057
Intergovernmental - - 319,774 -
Use of money and property 374,217 39,233 15,190 9,005
Miscellaneous 1,825,786 - - -
Total revenues 2,200,003 424,200 334,964 97,062

EXPENDITURES
Current:

General government 8,826 32,123 - -
Public safety - - 38,498 -
Community development - - - -
Parks and recreation - - - -
Public works 99,751 298,280 - 3,599
Capital outlay - - 535,801 -
Total expenditures 108,577 330,403 574,299 3,599
Excess (deficiency) of revenues
over (under) expenditures 2,091,426 93,797 (239,335) 93,463

OTHER FINANCING SOURCES (USES)
Transfers in 8,826 - - -
Transfers out (1,726,036) - - (84,945)
Total other financing sources (uses) (1,717,210) - - (84,945) Net change in fund balances 374,216 93,797 (239,335) 8,518 Fund balances-beginning 11,623,322 1,285,614 783,500 276,417 Fund balances (deficit)-ending $ 11,997,538 $ 1,379,411 $ 544,165 $ 284,935

CITY OF IRWINDALE, CALIFORNIA
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances Nonmajor Governmental Funds
For the Year Ended June 30, 2025
92

Special Revenue Funds
Air Quality
Improvement Proposition A Proposition C Measure R

REVENUES
Taxes $ - $ 38,912 $ 32,277 $ 24,203
Intergovernmental 1,476 - - -
Use of money and property 439 2,283 1,725 2,674
Miscellaneous - - - -
Total revenues 1,915 41,195 34,002 26,877

EXPENDITURES
Current:

General government - - - -
Public safety - - - -
Community development - - - -
Parks and recreation - - - -
Public works - 40,817 - -
Capital outlay - - - -
Total expenditures - 40,817 - -
Excess (deficiency) of revenues
over (under) expenditures 1,915 378 34,002 26,877

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out - - (35,719) (26,789)
Total other financing sources (uses) - - (35,719) (26,789) Net change in fund balances 1,915 378 (1,717) 88
Fund balances-beginning 4,212 73,004 42,284 77,707
Fund balances (deficit)-ending $ 6,127 $ 73,382 $ 40,567 $ 77,795

CITY OF IRWINDALE, CALIFORNIA
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds
For the Year Ended June 30, 2025
93

Special Revenue Funds
TDA Article 3 Federal Grants
Community
Development
Block Grant State Grants

REVENUES
Taxes $ 5,000 $ - $ - $ -
Intergovernmental - 70,695 - 1,749,550
Use of money and property - - - -
Miscellaneous - - - -
Total revenues 5,000 70,695 - 1,749,550

EXPENDITURES
Current:

General government - - - 200,000
Public safety - 101,717 - -
Community development - 21,115 - 644
Parks and recreation - - - -
Public works - - - -
Capital outlay - - - -
Total expenditures - 122,832 - 200,644
Excess (deficiency) of revenues
over (under) expenditures 5,000 (52,137) - 1,548,906

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out (5,000) - - (1,502,839)
Total other financing sources (uses) (5,000) - - (1,502,839) Net change in fund balances - (52,137) - 46,067
Fund balances-beginning - 14,037 1,246 -
Fund balances (deficit)-ending $ - $ (38,100) $ 1,246 $ 46,067

CITY OF IRWINDALE, CALIFORNIA
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds
For the Year Ended June 30, 2025
94

Special Revenue Funds
COPS
Asset
Forfeiture
State Fund Measure M
Safe Clean
Water Program

REVENUES
Taxes $ - $ - $ 27,421 $ 405,061
Intergovernmental 194,663 - - -
Use of money and property 10,875 42 1,458 38,873
Miscellaneous - - - -
Total revenues 205,538 42 28,879 443,934

EXPENDITURES
Current:

General government - - - -
Public safety 9,983 - - -
Community development - - - -
Parks and recreation - - - -
Public works - - - 127,552
Capital outlay 80,344 - - -
Total expenditures 90,327 - - 127,552
Excess (deficiency) of revenues
over (under) expenditures 115,211 42 28,879 316,382

OTHER FINANCING SOURCES (USES)
Transfers in - - - -
Transfers out - - (30,361) (13,262)
Total other financing sources (uses) - - (30,361) (13,262) Net change in fund balances 115,211 42 (1,482) 303,120
Fund balances-beginning 269,792 1,393 36,124 1,310,939
Fund balances (deficit)-ending $ 385,003 $ 1,435 $ 34,642 $ 1,614,059

CITY OF IRWINDALE, CALIFORNIA
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds
For the Year Ended June 30, 2025
95

Special Revenue Funds
Development
Impact Fees
Irwindale
Community
Foundation
Total
Nonmajor
Funds

REVENUES
Taxes $ - $ - $ 1,005,898
Intergovernmental - - 2,336,158
Use of money and property 259,425 3,881 759,320
Miscellaneous - 276,840 2,102,626
Total revenues 259,425 280,721 6,204,002

EXPENDITURES
Current:

General government - - 240,949
Public safety - - 150,198
Community development - - 21,759
Parks and recreation - 29,747 29,747
Public works - - 569,999
Capital outlay - - 616,145
Total expenditures - 29,747 1,628,797
Excess (deficiency) of revenues
over (under) expenditures 259,425 250,974 4,575,205

OTHER FINANCING SOURCES (USES)
Transfers in - - 8,826
Transfers out - - (3,424,951)
Total other financing sources (uses) - - (3,416,125)
Net change in fund balances 259,425 250,974 1,159,080
Fund balances-beginning 8,552,412 332,995 24,684,998
Fund balances (deficit)-ending $ 8,811,837 $ 583,969 $ 25,844,078

CITY OF IRWINDALE, CALIFORNIA
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances (Continued) Nonmajor Governmental Funds
For the Year Ended June 30, 2025
96

Budgetary Comparison Schedules - Nonmajor Governmental Funds 97

Reclamation
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Use of money and property $ 20,500 $ 20,500 $ 374,217 $ 353,717 Miscellaneous 2,021,820 2,021,820 1,825,786 (196,034)
Total revenues 2,042,320 2,042,320 2,200,003 157,683

EXPENDITURES
Current:

General government 48,970 28,970 8,826 20,144
Public works 123,030 123,030 99,751 23,279
Total expenditures 172,000 152,000 108,577 43,423
Excess (deficiency) of revenues
over (under) expenditures 1,870,320 1,890,320 2,091,426 201,106

OTHER FINANCING SOURCES (USES)
Transfers in 48,970 48,970 8,826 (40,144)
Transfers out (1,876,970) (1,876,970) (1,726,036) 150,934 Total other financing sources (uses) (1,828,000) (1,828,000) (1,717,210) 110,790 Net change in fund balances $ 42,320 $ 62,320 374,216 $ 311,896 Fund balances-beginning 11,623,322
Fund balances-ending $ 11,997,538

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Reclamation
For the Year Ended June 30, 2025
98

AB939
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Taxes $ 362,480 $ 362,480 $ 384,967 $ 22,487
Use of money and property 1,000 1,000 39,233 38,233
Total revenues 363,480 363,480 424,200 60,720

EXPENDITURES
Current:

General government 10,000 - 32,123 (32,123)
Public works 357,260 365,127 298,280 66,847
Total expenditures 367,260 365,127 330,403 34,724
Net change in fund balances $ (3,780) $ (1,647) 93,797 $ 95,444 Fund balances-beginning 1,285,614
Fund balances-ending $ 1,379,411

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual AB939
For the Year Ended June 30, 2025
99

Asset Forfeiture
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Intergovernmental $ - $ 280,569 $ 319,774 $ 39,205
Use of money and property - 17,663 15,190 (2,473)
Total revenues - 298,232 334,964 36,732

EXPENDITURES
Current:

General government - - - -
Public safety - 277,312 38,498 238,814
Capital outlay - 788,426 535,801 252,625
Total expenditures - 1,065,738 574,299 491,439
Net change in fund balances $ - $ (767,506) (239,335) $ 528,171 Fund balances-beginning 783,500
Fund balances-ending $ 544,165

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Asset Forfeiture
For the Year Ended June 30, 2025
100

State Gas Tax
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Other Taxes $ 84,842 $ 84,842 $ 88,057 $ 3,215
Use of money and property - - 9,005 9,005
Total revenues 84,842 84,842 97,062 12,220

EXPENDITURES
Current:

Public works 3,600 3,600 3,599 1
Total expenditures 3,600 3,600 3,599 1
Excess (deficiency) of revenues
over (under) expenditures 81,242 81,242 93,463 12,221

OTHER FINANCING SOURCES (USES)
Transfers out (81,242) (212,687) (84,945) 127,742
Total other financing sources (uses) (81,242) (212,687) (84,945) 127,742 Net change in fund balances $ - $ (131,445) 8,518 $ 139,963 Fund balances-beginning 276,417
Fund balances-ending $ 284,935

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual State Gas Tax
For the Year Ended June 30, 2025
101

Air Quality Improvement
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Intergovernmental $ 750 $ 750 $ 1,476 $ 726
Use of money and property - - 439 439
Total revenues 750 750 1,915 1,165

EXPENDITURES
Current:

Public works 750 750 - 750
Total expenditures 750 750 - 750
Net change in fund balances $ - $ - 1,915 $ 1,915
Fund balances-beginning 4,212
Fund balances-ending $ 6,127

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Air Quality Improvement
For the Year Ended June 30, 2025
102

Proposition A
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Taxes $ 41,712 $ 41,712 $ 38,912 $ (2,800)
Use of money and property 50 50 2,283 2,233
Total revenues 41,762 41,762 41,195 (567)

EXPENDITURES
Current:

Public works 41,762 41,762 40,817 945
Total expenditures 41,762 41,762 40,817 945
Net change in fund balance $ - $ - 378 $ 378
Fund balances-beginning 73,004
Fund balances-ending $ 73,382

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Proposition A
For the Year Ended June 30, 2025
103

Proposition C
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Other Taxes $ 34,599 $ 34,599 $ 32,277 $ (2,322)
Use of money and property - - 1,725 1,725
Total revenues 34,599 34,599 34,002 (597)
Excess (deficiency) of revenues
over (under) expenditures 34,599 34,599 34,002 (597)

OTHER FINANCING SOURCES (USES)
Transfers out (34,599) (70,318) (35,719) 34,599
Total other financing sources (uses) (34,599) (70,318) (35,719) 34,599 Net change in fund balances $ - $ (35,719) (1,717) $ 34,002 Fund balances-beginning 42,284
Fund balances-ending $ 40,567

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Proposition C
For the Year Ended June 30, 2025
104

Measure R
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Other Taxes $ 25,949 $ 25,949 $ 24,203 $ (1,746)
Use of money and property - - 2,674 2,674
Total revenues 25,949 25,949 26,877 928
Excess (deficiency) of revenues
over (under) expenditures 25,949 25,949 26,877 928

OTHER FINANCING SOURCES (USES)
Transfers out (25,949) (52,738) (26,789) 25,949
Total other financing sources (uses) (25,949) (52,738) (26,789) 25,949 Net change in fund balances $ - $ (26,789) 88 $ 26,877
Fund balances-beginning 77,707
Fund balances-ending $ 77,795

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Measure R
For the Year Ended June 30, 2025
105

TDA Article 3
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Other Taxes $ 5,000 $ 5,000 $ 5,000 $ -
Total revenues 5,000 5,000 5,000 -
Excess (deficiency) of revenues
over (under) expenditures 5,000 5,000 5,000 -

OTHER FINANCING SOURCES (USES)
Transfers out (5,000) (10,000) (5,000) 5,000
Total other financing sources (uses) (5,000) (10,000) (5,000) 5,000 Net change in fund balances $ - $ (5,000) - $ 5,000
Fund balances-beginning -
Fund balances-ending $ -

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual TDA Article 3
For the Year Ended June 30, 2025
106

Federal Grants
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Intergovernmental $ - $ 540,610 $ 70,695 $ (469,915)
Total revenues - 540,610 70,695 (469,915)

EXPENDITURES
Current:

General government - - - -
Community development - 150,000 21,115 128,885
Public safety - 235,272 101,717 133,555
Housing activities - 1,328 - 1,328
Capital outlay - 153,639 - 153,639
Total expenditures - 540,239 122,832 417,407
Net change in fund balance $ - $ 371 (52,137) $ (52,508) Fund balances-beginning 14,037
Fund balances-ending $ (38,100)

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Federal Grants
For the Year Ended June 30, 2025
107

Community Development Block Grant
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Intergovernmental $ 8,243 $ 8,243 $ - $ (8,243)
Total revenues 8,243 8,243 - (8,243)
Excess (deficiency) of revenues
over (under) expenditures 8,243 8,243 - (8,243)

OTHER FINANCING SOURCES (USES)
Transfers out (8,243) (8,243) - 8,243
Total other financing sources (uses) (8,243) (8,243) - 8,243 Net change in fund balances $ - $ - - $ -
Fund balances-beginning 1,246
Fund balances-ending $ 1,246

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Community Development Block Grant
For the Year Ended June 30, 2025
108

State Grants
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Intergovernmental $ - $ 336,711 $ 1,749,550 $ 1,412,839 Total revenues - 336,711 1,749,550 1,412,839

EXPENDITURES
Current:

General government - 200,000 200,000 -
Community development - 92,549 644 91,905
Public works - 40,000 - 40,000
Capital outlay - 5,059 - 5,059
Total expenditures - 337,608 200,644 136,964
Excess (deficiency) of revenues
over (under) expenditures - (897) 1,548,906 1,549,803

OTHER FINANCING SOURCES (USES)
Transfers out - (3,445,839) (1,502,839) 1,943,000
Total other financing sources (uses) - (3,445,839) (1,502,839) 1,943,000 Net change in fund balances $ - $ (3,446,736) 46,067 $ 3,492,803 Fund balances-beginning -
Fund balances-ending $ 46,067

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual State Grants
For the Year Ended June 30, 2025
109

COPS
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Intergovernmental $ - $ 194,663 $ 194,663 $ -
Use of money and property - 7,951 10,875 2,924
Total revenues - 202,614 205,538 2,924

EXPENDITURES
Current:

Public safety - 60,000 9,983 50,017
Capital outlay - 404,455 80,344 324,111
Total expenditures - 464,455 90,327 374,128
Net change in fund balances $ - $ (261,841) 115,211 $ 377,052 Fund balances-beginning 269,792
Fund balances-ending $ 385,003

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual COPS
For the Year Ended June 30, 2025
110

Asset Forfeiture State Fund
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Use of money and property $ - $ - $ 42 $ 42
Total revenues - - 42 42

EXPENDITURES
Current:

Public safety - 1,869 - 1,869
Total expenditures - 1,869 - 1,869
Net change in fund balances $ - $ (1,869) 42 $ 1,911
Fund balances-beginning 1,393
Fund balances-ending $ 1,435

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Asset Forfeiture State Fund
For the Year Ended June 30, 2025
111

Measure M
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Other Taxes $ 29,409 $ 29,409 $ 27,421 $ (1,988)
Use of money and property - - 1,458 1,458
Total revenues 29,409 29,409 28,879 (530)
Excess (deficiency) of revenues
over (under) expenditures 29,409 29,409 28,879 (530)

OTHER FINANCING SOURCES (USES)
Transfers out (29,409) (59,770) (30,361) 29,409
Total other financing sources (uses) (29,409) (59,770) (30,361) 29,409 Net change in fund balances $ - $ (30,361) (1,482) $ 28,879 Fund balances-beginning 36,124
Fund balances-ending $ 34,642

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Measure M
For the Year Ended June 30, 2025
112

Safe Clean Water Program
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Other Taxes $ 400,000 $ 400,000 $ 405,061 $ 5,061
Use of money and property - - 38,873 38,873
Total revenues 400,000 400,000 443,934 43,934

EXPENDITURES
Current:

Public works 227,000 239,764 127,552 112,212
Total expenditures 227,000 239,764 127,552 112,212
Excess (deficiency) of revenues
over (under) expenditures 173,000 160,236 316,382 156,146

OTHER FINANCING SOURCES (USES)
Transfers out (173,000) (1,163,445) (13,262) 1,150,183
Total other financing sources (uses) (173,000) (1,163,445) (13,262) 1,150,183 Net change in fund balances $ - $ (1,003,209) 303,120 $ 1,306,329 Fund balances-beginning 1,310,939
Fund balances-ending $ 1,614,059

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Safe Clean Water Program
For the Year Ended June 30, 2025
113

Development Impact Fees
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Charges for services $ 1,055,607 $ 1,055,607 $ - $ (1,055,607) Use of money and property - - 259,425 259,425
Total revenues 1,055,607 1,055,607 259,425 (796,182)
Net change in fund balances $ 1,055,607 $ 1,055,607 259,425 $ (796,182) Fund balances-beginning 8,552,412
Fund balances-ending $ 8,811,837

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Development Impact Fees
For the Year Ended June 30, 2025
114

Schedules of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual – Capital Project Funds
115

Capital Projects Fund
Original Final
Actual
Amounts
Variance with
Final Budget
Positive
(Negative)

REVENUES
Intergovernmental $ - $ - $ 64,700 $ 64,700
Use of money and property 25,000 25,000 124,943 99,943
Total revenues 25,000 25,000 189,643 164,643

EXPENDITURES
Capital outlay 1,573,000 22,222,734 5,485,897 16,736,837 Total expenditures 1,573,000 22,222,734 5,485,897 16,736,837 Excess (deficiency) of revenues
over (under) expenditures (1,548,000) (22,197,734) (5,296,254) 16,901,480

OTHER FINANCING SOURCES (USES)
Transfers In 1,573,000 20,755,142 5,345,058 (15,410,084) Total other financing sources (uses) 1,573,000 20,755,142 5,345,058 (15,410,084) Net change in fund balances $ 25,000 $ (1,442,592) 48,804 $ 1,491,396 Fund balances-beginning 267,180
Fund balances-ending $ 315,984

CITY OF IRWINDALE, CALIFORNIA
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual Capital Projects Fund
For the Year Ended June 30, 2025
116

Combining Fiduciary Funds
117

Combining Statement of Fiduciary Net Position - All Custodial Funds Street Lighting
District
Sewer
Maintenance
District
Total
Custodial
Funds
ASSETS
Pooled cash and investments $ 45,494 $ 475,556 $ 521,050 Receivables:

Taxes 34 351 385
Accrued interest 369 3,287 3,656
Total assets 45,897 479,194 525,091

LIABILITIES
Accounts payable 316 4,729 5,045
Total liabilities 316 4,729 5,045

NET POSITION
Restricted for:

Restricted for individuals, organizations, and other governments 45,581 474,465 520,046 Total net position $ 45,581 $ 474,465 $ 520,046

CITY OF IRWINDALE, CALIFORNIA
Combining Statement of Fiduciary Net Position
Fiduciary Funds - Custodial Funds
June 30, 2025
118

Combining Statement of Changes in Fiduciary Net Position - All Custodial Funds Street
Lighting
District
Sewer
Maintenance
District
Total
Custodial
Funds

ADDITIONS
Taxes $ 16,422 $ 172,592 $ 189,014
Interest and change in fair value of investments 1,349 12,010 13,359 Total additions 17,771 184,602 202,373

DEDUCTIONS
Administrative expenses 11,497 23,502 34,999
Contractual services - 25,108 25,108
Utilities 4,440 - 4,440
Total deductions 15,937 48,610 64,547
Net increase (decrease) in fiduciary net position 1,834 135,992 137,826 Net position-beginning 43,747 338,473 382,220
Net position-ending $ 45,581 $ 474,465 $ 520,046

CITY OF IRWINDALE, CALIFORNIA
Combining Statement of Changes in Fiduciary Net Position Fiduciary Funds - Custodial Funds
For the Year Ended June 30, 2025
119